Tax relief: How would you vote?

Posted by $ CBJ 9 years, 5 months ago to Government
6 comments | Share | Best of... | Flag

Imagine you are a member of Congress, considering a bill that would cut income taxes by a large amount but would not cut government spending at all, thus triggering a substantial rise in the deficit. Which way would you vote, and why?


Add Comment

FORMATTING HELP

All Comments Hide marked as read Mark all as read

  • Posted by $ root1657 9 years, 5 months ago
    Vote yes, then work on that spending problem. The lower tax rates will actually increase revenue (historically proven) which will slightly ease the deficit problem while we work on the spending problem.
    Reply | Mark as read | Best of... | Permalink  
  • Posted by edweaver 9 years, 5 months ago
    This is exactly how the Regan administration brought us out of the Carter fiasco so I would vote yes. Then as the revenue increased to pay off the debt I would introduce a bill to start capping the amount of money the federal government could get from the public with a goal that it never exceeds 8% of the GDP. Social security would be phased out as well. 8% is 8% total, no more. Government must be forced to live within it means. This is the only way that we will ever be able to limit the power & size of government. I would also propose that this tax money would have to be delivered by the states, not by the personal income tax. The states would then have greater power to stop the federal government if the state does not agree with what they are doing. The states would be responsible for collecting any tax money that goes to the feds. I would propose the same legislation withing the states and local governments that they are also capped so that the total tax burden on the people is no greater than 15%. If each person only had to give up 15% of their income to the government we would all start to feel true freedom. Until that time no matter who is in office, we will always be standing at the edge of the cliff with our freedom on the line. But just think where our economy would go if each household had more of their money to spend, save, invest or store for retirement.
    Reply | Mark as read | Best of... | Permalink  
  • Posted by richrobinson 9 years, 5 months ago
    Good question. I would vote yes. The deficit should eventually fall based on the resulting increase in economic activity. I would still work on reducing spending and the size of government.
    Reply | Mark as read | Best of... | Permalink  

FORMATTING HELP

  • Comment hidden. Undo