Let me put this in very real terms. That family of 5 I am talking about, they are a $50,000 a year kind of family. When Christmas comes they want to buy presents for their kids, but they are living paycheck to paycheck as they go along. All of a sudden when they get to Christmastime, what happens? The mother takes a second job so they can buy Christmas presents for the kids. If we get the tax down, they have already the $2,300, we hope to go further, the taxes are down $2,300, she may still take the job and put the money in retirement, but the bottom line is, it is now her choice. It is not done out of necessity to be able to buy the Christmas presents, it is now being done out of choice as opposed to necessity. We have empowered that mother to make the decision at Christmastime to not go out and get a second job so she can pay for the Christmas presents. How have we done that? We have simply let them keep more of their own money that they earned anyhow, instead of government spending it.
Mark Neumann: “Let me put this in very real terms. That family of 5 I am talking about, they are a $50,000 a year kind of family. When…”
Editor's note · Context
Discussing the impact of tax cuts on a working family's financial choices.
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