Will Raise Family Incomes, Create More Opportunities, and Enhance Financial Security. Families will have more to spend on the things they personally need or to pay down their own debt. Everyone who pays income taxes will receive a tax cut. Married couples and families with children will benefit the most.
Opponents often point out that many low-income families have a significant payroll tax burden.
This certainly is accurate, but this is not an argument against cutting income tax rates. Instead, it suggests that lower-income workers should be allowed to shift some of their payroll tax to private retirement accounts. Yet opponents also oppose these alternatives and simply call for more additional government spending and more income redistribution. Tax Relief Will Increase Opportunities. The President s tax relief plan will create 1.6 million new job opportunities by FY 2011.