Economic Policy Essay -- essays research papers fc

Economic Policy The new economic policy of the united states should include cutting taxes, reducing governmental waste, and balance the budget by having a smaller more efficient federal government. It should include equal opportunity for financial security but not through a government sponsored redistribution of wealth program. Cutting taxes across the board including income tax rates, capital gains and estate taxes among others should provide a growth spurt for the economy. Allowing people and businesses to keep more of their hard earned money would enable them to spend more money. People would be able to buy more cars, refrigerators, homes etc. The businesses would be able to build new factories with better more efficient high tech equipment. These new factories and expanded businesses would employee more highly paid workers which would expand the tax base and allow us to be more competitive in the world marketplace. Reducing the taxes would also motivate people to work harder and save more. The way things are now people can not seem to get ahead no matter how hard they work. The harder they work the more the government takes while others who choose not to work hard or have not developed the skills to earn a decent wage reap the same and in many cases more benefits. For example student loans and grants for college board and tuition fees are largely unavailable to lower middle class families let alone middle and upper middle class people. Reducing taxes on businesses would also allow them to invert more on new product development and research which in many instances the federal government now subsidizes which requires management. This government management bureaucracy cost tax payers money and is unnecessary because free market demands and the extra money they would save from tax cuts would motivate businesses to fund these programs themselves. This is just an example of what a smaller more efficient federal government. "Citizens in the united states today pay 38.2 percent of there income in taxes every year" (RNC Talking Points). This is way to much money for Americans to be paying. "Cutting everyone's taxes by 15 percent and giving them a 500 dollar per child tax credit would cut a typical families tax bill in half, a... ...Review and Outlook Dole and Taxes." The Wall Street Journal 29 July 1996: A12 Sepp, Peter J. "Are Republicans Serious About Cutting Fat?" New York Times 30 Aug. 1995: A17 "Dole Hopes Tax-Cut Move Will Energize His Campaign, but Which taxes to Cut?" The Wall Street Journal 15 may 1996: A16 "A Vote for a Sensible Center." Business Week 18 Nov. 1996: 194 "The National Debt. It's Eating Us Alive!" Internet http://www.europa.com/~blugene/deficit/debt.html "The Balance Sheet -- August 11, 1995." Internet http://www.rnc.ogr/news/balance/bal-950815.html "RNC Talking Points Cutting Taxes and Balancing the Budget Bill Clinton's Dirty Little Secret: A $64 Billion Tax Increase" Internet http://www.rnc.org/news/talking/tp-960913.html