It benefits me by allowing me to "keep more of what I earn". Otherwise, taxes would need to be raised on ALL of us, a concept I have no problem with personally, but when I earn less than X annually and someone else who earns X4 my gross income but has been receiving tax breaks for 2-3 decades, I'd say they've had more than their fair share of "investment income incentives" to move the economy along.
The Bush tax cuts didn't work because the rich didn't reinvest in this country's future. Instead, it would appear that they followed the Wall Street montra of "greed is good". If you doubt it, how do you explain the recession? You'll of course say it was homeowners who bought homes they couldn't afford, but let's not forget in most cases it was banks and mortgage lenders who convinced these people they could purchase their homes at low APR and refinance later (2-3 yrs). How'd that work out for low-income families who's only real mistake was trying to live the American dream? Yes, they should have read the fine print and better understood the conditions of the mortgage contract they signed, but let's be real here. By a show of virtual hands how many honestly know the full details of your mortgage contract? I sure don't! But I knew enough to insist on something better than an ajustable rate mortgage. So, I guess I was smarter than most average Joes out there. Still, my point is this isn't an indictment on those top 1-2% wage earners. It's a call for them to give back to the country who helped make them millionaires in the first place in providing the very investment opportunities and tax shelters they've come to enjoy so much.
"Ask not what your country can do for you, but what you can do for your country." For once, I'm asking where's your patriotism?