http://www.npr.org/2017/05/09/527541011/economists-debate-if-tax-cuts-pay-for-themselves
Our current administration under Trump's presidency is pushing a business tax cut. In order to garner more support for this position, they are arguing that tax cuts are able to pay for themselves and remain self-sustainable. They cite the Laffer curve as evidence; stating that with lower taxes, businesses will have more money to be able to invest into the economy and hire more people. Their new employees will end up paying income tax, and eventually the tax cuts will be able to pay for themselves at that point. There have been tax cuts in the 1920s and the 1960s, immediately followed by an economic boom, further supporting the viewpoint that tax cuts could in fact finance themselves. Even with all the speculation, it is still unsure if tax cuts are self-sustainable, as there are no concrete links between tax cuts and economic prosperity.
Do you think tax cuts could bring more money into the economy?
How much would you cut tax by?
Should tax cuts be enacted right now?
Tax cuts will not bring as much money as taxes itself. I would not cut taxes. I am not sure because I do not know how our economy is doing right now.
ReplyDeleteTax cuts will not bring money into the economy because there will be less money going to the government.
ReplyDeleteI agree with Kyle that tax cuts will be beneficial, for taxes itself bring more money into the economy. Less money would indeed be going into the government.
ReplyDeleteI agree with Kyle and Joe that tax cuts will be beneficial because it will decrease the amount going to the government. However, it will not bring more into the economy.
ReplyDeleteTax cuts will result in a higher salary for workers,this means less money would be going to the government. (It will not bring money into the economy)
ReplyDeletetax cuts will bring more money into the government but only if the tax rate is already too high which I think it is not. I do think it will help the economy though.
ReplyDeleteTax cuts will not bring money into the economy. There will be less money going into the government. It won't bring much more into the economy
ReplyDeleteThis is pretty clearly influenced by Trump's backround. It concerns me that the president is so clearly in the pocket of big businesses. Or maybe it is better to know his alligences.
ReplyDeleteTax cuts could bring in more money into the economy, but not necessarily money into the government. The government would struggle to cover the cost of military, education, health, etc. While businesses would like that and invest more into garnering more consumers, it is not ideal.
ReplyDeleteI think that tax cuts help bring money into the economy but it could decrease the amount of money going into the economy because if there are tax cuts then there would be less money going to economy.
ReplyDeleteI think it could be true that tax cuts will help grow the economy to a certain extent, but I just feel like the way that Trump is changing the taxation system really only benefits the rich, so it's kind of illogical. To quote Hillary, this is really just "Trumped-up Trickle Down"
ReplyDeletecutting taxes using this logic seems like a ridiculously roundabout way of disguising trickle down economics, which FAILED, with no guarantee of success. if this works, fantastic. but will it?
ReplyDeleteTax cuts can help the economy, but with Trump in office now, it will mainly be focused towards middle and upper class society.
ReplyDeleteCutting taxes would lead to more money but not towards the government. However, this would not draw more money to the economy.
ReplyDeleteI agree with my peers, money will be in the economy which some agrue is ideal but our economy is currently fine. In addition, the money will not feed into the government. It will just go right into Big courps
ReplyDeleteI agree with oscar that tax cuts won't go the government but to the big corporations
ReplyDeleteI agree with most of my peers stating that the tax cuts will not go anywhere but bigger corporations.
ReplyDeleteI agree that tax cutting could possibly benefit the economy however I do think the mindset behind it is to benefit the rich.
ReplyDeleteTax cuts may benefit the economy but it will not help out everyone exactly, as previously mentioned.
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