@coldjoint,
Quote:
The word "insignificant" is condescending.
Only to the chronically oversensitive.
Quote:Finally, there is evidence from previous tax changes that people do not register it when their paychecks go up by relatively small amounts. Take what happened after President Barack Obama signed the Making Work Pay tax credit into law in 2009.
That $116 billion tax cut resulted in American households receiving an extra $1,200 in take home pay in 2009 and 2010. But that tax cut was parceled out, paycheck by paycheck, in line with the thinking of economists who argued recipients would be more likely to spend a small amount of money, making it a more effective economic stimulus. The result? According to the New York Times, less than 10 percent of Americans knew they received a tax cut. More people thought their taxes had increased.
If people don't notice an increase in their take-home pay, the increase can be called "insignificant". There's no implied condescension or extreme negativity. The article merely observes that the tax cut was oversold, at least to the majority of taxpayers who see no increase. The article explains:
Quote:Steve Liesman, senior economics reporter for CNBC, pointed out to me that it’s also possible that the relatively small amount of money from the tax cut got swallowed up by other changes in people’s paychecks at the beginning of the year. For example, if someone needs to contribute more toward an increased health insurance premium, that could take up a decent chunk of the relatively small weekly or bi-weekly amount the tax cut amounted to for most people.
The plan was sold with the idea that it would be a huge windfall for the middle class.
