Friday, April 26, 2019
Tax Reform Essay Example | Topics and Well Written Essays - 1500 words
Tax remediate - Essay ExampleThe Bush tax cuts have non proven to be good for our economy. Although, we had a budget surplus our government jumped the gun with the tax cuts. These tax cuts will decrease the surplus super quickly and this bills should be going towards most of the governmental run programs that usu eachy atomic number 18 pitch toward the moderate to low income multitude. Bush did not anticipate any future events that could lead us recompense back into a budget deficit and this has become the biggest problem our economy is facing today.Taxes be demand for the administration and funding of governmental organizations, as well(p) as construction and universal infrastructure services. gross presents positive and negative characteristics within an economic system.As history presents, most taxes have been geared toward the heart to lower ground leveles with the upper classes receiving many tax breaks. With tax cuts for corporations, estates and the top one per centum of high incomes all the little people will be left out in the cold. By demolishing the unblemished budget surplus, government programs, such as social security, will be neglected once the gratify boomers begin retiring (Friedman, et al May, 2001, p 1). As Mark Breslow states, The corporate income tax, which is relatively progressive, has been replaced by taxes that are a particular burden on people with moderate and low incomes. The cut of the alternative tokenish tax has done nothing to help put money where it is needed, in the moderate to low income pockets. These people would definitely help stimulate the economy to help get us out of the recession we are falling into.John Miller points out, that only two percent of estates are actually taxed and even the well off have little to worry about (Miller 2001 p 59.). This still does not help the status with the moderate to low income taxpayers. This group is being over taxed because they can never make enough money to meet t he upper one percent of income that would be a benefit to them. This group also does not participate in the decision which does not help their situation.Robert S. McIntyre argues that, The individual tax changes, which includes a ten percent decrease in capital gains taxes, are sharply tilted towards the wealthy (McIntyre, 2001 p. 1). According to Joel Friedman, some lv percent of the stimulus package benefits are going to the wealthiest one percent of taxpayers (Friedman, et al November 2001 p. 1). This is very discourage but it seems that if the people really cared about or was fully informed of the results of these tax cuts there would be severe rallying in the streets.Bushs tax cut, or stimulus package, has only been geared toward the upper class and this class has a very low marginal
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