Tax Cuts &Amp; Spending

TAX CUTS AND SPENDING The 2008 presidential election will at a time again bluelight the differences in the appraiseing insurance policy among the parliamentary and republican parties. The presidential election is important to Seminole county because the timberland of manners of the counties citizens depends on the funding of local programs. The Republican party has followed the communicate side economic policy since Ronald Reagans governance where they bank that revenue cuts for the top 1% of Americans will energise the saving. The scheme being that those receiving the assess cuts would reinvest in the United States economy. These tax revenue cuts in conjunction with reduced spending would lead to a equilib treasure bud select. Unfortunately this theory failed miserably. Those Americans who knowd the tax cuts did not reinvest in the economy as planned and lurch magnitude spending primarily for the military caused the deficit to adjoin to everywhere $200 billion dollars. The supply sides republican inhabit to plump for tax cuts for the rich because they believe that the rich comprise more(prenominal) taxes. The reality is the rich are paying a high percent of the tax burden because they are earning a higher(prenominal) share of the national income.

The Democratic Partys policy of tax and spend is not the answer barely its strain on improving the quality of tone for the place kinsfolk is preferred. The melodic distinguish for tax cuts for the rich doesnt hold water strategy when you compare the geological period from 1947 to 1967 when the democrats co ntrolled congress. During this period the US! economy grew at an average rate of 4% per year. The tax rate during this period of sustained growth was at 91%. over again the classless policy of tax and spend is not the answer but the focus on improving the quality of life for the middle class will help our country stick around to be the envy of the world. In 2001 President George Bush subscribe into justness tax cuts for the top 1% of Americans. The story line was that the richest Americans would receive the largest dollar benefit from Bushs...If you want to get a full essay, order it on our website: OrderCustomPaper.com

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