Fiscal Policy In The US Essay - 720 Words

Fiscal Policy In The US â€Å"Real plans for real people.† This was the coined theme for the Bush campaign back in September. As far as I can see with his tax cut plan in doesn’t involve â€Å"real people†. It may just depend on your definition of the term, but the â€Å"real people† of America are the middle class, hard working families. Bush’s tax plan is now said to be $1.6 trillion over a ten year period of time. Most of this money will go to the upper brackets, the â€Å"better off†. Granted they do pay the most money, but then when you think about it, why do they need the cut? Can they not afford to pay their taxes? In this economic time of a feared recession our government should be doing everything in their power to avoid this situation.†¦show more content†¦Ten years is a very long time. As for increasing the incentive to work and save, I find it hard to want to save my money when they take it away for taxes. If you want to give an incentive to save, why not turn to VAT’s instead of income taxes? I know this would be an almost impossible thing to accomplish but the way it was explained to me was so clear. I thought in my head, â€Å"Duh! Why don’t people explore this option?† Also, if they lower the amount of money Congress can spend they are lowering the amount of money for schools and education, among other things. A controversial part of the budget includes spending money for religious based activities and voucher’s so that people may have the choice of schools. My reaction to this can be best described as almost an annoyance. I am young and naive but I feel strongly about things I believe and I am also very stubborn. I will stand up for things that I believe and state my case whenever I can. In our constitution we state that we all, as Americans, have the freedom of religion. In a way I feel that by saying no religion in schools, you are somewhat enabling this right. I can, however, understand that this is a controversial topic. But if you are denying children the right to practice their religion in school, why can you not give them a chance to do it in a school in which education and religion are interwoven. We are the future and by decreasing spending on education, they are only making things harder forShow MoreRelatedUS Public Financial and Fiscal Policies1858 Words   |  8 Pa gesThe US has the largest single national economy in the world. As it is a democratic society one might assume that the wealth is equally distributed amongst its people. In reality the nation is severely segregated in terms of who has the wealth and all the benefits associated with it. A central aspect of this unequal distribution results from Government Fiscal policies. This is especially true of Tax Revenue, with all the possible breaks, exemptions and loopholes that currently exist. The major benefactorRead MoreQuestions and Answers on the Fiscal Policy Choices of the US Government2274 Words   |  9 Pagesincrease in the nations debt ceiling. With the national debt currently at 15.3 trillion/ 102 percent of GDP, and the U.S. debt held by the public at over ten trillion/ 72 percent of GDP (Dinan, S. February 14, 2011), there are serious concerns as to the fiscal health of the nation, especially considering the runaway entitlement unfunded liabilities. Overall, over the next 75 years, Social Security faces a $7 trillion unfunded liability and Medicare faces a $36 trillion unfunded liability (Przybyla, HRead MoreExpansionary Policy1254 Words   |  6 PagesExpansionary Fiscal and Monetary Policies Macroeconomics: ECO 203 Professor Charles Aki September 1, 2013 The US economy has seen some detrimental changes over the past decade. These changes resulted in unsubstantial unemployment rates, fluctuating interest rates, unstable GDP, and an increase in taxes. 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It all started with President Ronald Reagan in the 1980s. Reagan was famous for his supply-side economic views (Amadeo 1). He used top-down economics meaning he used government interventionRead MoreGreece : A Common Euro Zone1486 Words   |  6 Pagessupply (Alessi, 2012). ECB was the only institution capable of intervening and making decisive decision on how the debt crisis should be handled. However, critiques, like Germany, oppose ECB for getting involved in any fiscal activities. ECB, wanted to be a lender of last resort like the US Federal Bank of Reserve; such as printing money and lend money to countries or buy government bonds to help relieve the debt crisis. This did not happen until 2010 when Greece really was in deep trouble. The formerRead MoreThe Federal Government Uses Two Major Financial Policies1700 Words   |  7 Pagesgovernment uses two major financial policies in terms of changing or boosting the United States economy. These policies are expansionary fiscal policy and expansionary monetary policy. While both policies have an effect on the aggregate demand, GDP, and employment; expansionary fiscal policy sets changes in taxes and government spending, and expansionary monetary policy acts to increase the money supply to boost the economy. In expansionary fiscal policy the government usually decides to either