On Tuesday, January 10th, 2017, Arkansas Governor Asa Hutchinson, addressed to a joint session 91st general assembly at the state capitol in Little Rock, Ark. president elect Donald Trump and congressional republicans have said they will cut federal taxes in order to boost the economy. But some states have already done so only to see their plan fail and have budgets widen. Hutchinson warned the state last year and said, "It does not take a Ph.D. in economics to know that we can't say yes to every spending need, and we should also not say yes to every tax-cut idea," A recent associated press survey found that 33 states are currently dealing with a budget shortfall or expect to have one in the fiscal year. Experts said that economic growth has been slower than they expected with the revenue in some places failing to meet and keep up with rising spending needs.
Do you think cutting taxes will help the economy?
Should donald trump take precautions before going through with his plan?
Do you agree with Hutchinson when he says "It does not take a Ph.D. in economics to know that we can't say yes to every spending need, and we should also not say yes to every tax-cut idea,"?
http://www.sfgate.com/business/article/States-can-offer-a-lesson-as-GOP-proposes-deep-10862442.php
http://www.sfgate.com/business/article/States-can-offer-a-lesson-as-GOP-proposes-deep-10862442.php
While it does not take a PhD to realize what the governor has said, it does take education to realize what to cut in terms of taxes specifically and what to spend for the future of the state in order to avoid shortfalls and budget restraints. Yes, less taxes mean more citizen money but less state money, but a pinpointed reduction of taxes in one pocket and smart spending of money in another area can help create a smarter balance, and that's where the education and smarts come in.
ReplyDeleteI believe that cutting taxes will not help the economy because if individual states did it and they failed the making it the whole country will not make it any different. There should always be a precaution before taking a big chance like this that will effect millions.
ReplyDeleteI agree with Ricardo. Cutting taxes definitely wont help the economy because taxes that people pay can be used for other things that an maybe be beneficial
ReplyDeleteI think that cutting taxes are good for the people, but bad for the economy.
ReplyDeleteI think cutting taxes are good for the people, but not for the economy because then people are not making much. Trump should really precaution and think it over if it is really a good idea of what he is doing. I don't think people always need a PhD in economics because someone could just know what the subject is about and can be really good about it.
ReplyDeletenot all cutting tax ideas are great, it may help some and affect others . a good balance is what we need so it will not harm anyone and its no always easy to say no to needs .
ReplyDeleteIt depends on what kind of taxes you cut from, I agree with with Caner that it can be good for the average person but it can hurt the Nation economy as a whole.
ReplyDeleteCutting the taxes will just make the whole economy even worse and looking at this in a graph it will just show economy going downwards and like some of the others already it's good for the people but not the economy.
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