Due to outstanding economic times we now face a federal budget surplus. This surplus is the first one since the mid sixties. Before now we have been in a federal deficit. Because our good situation we are face with a tough decision; what do we do with the extra money. Some people think we should put the money in government programs others think we should give it back to the people who gave the government the money. Giving the money back to the taxpayers appears to be the most logical thing to do with the surpluses.
The government has a moral obligation to give the money back to the taxpayers. The government does not have anything to spend the money on now. Just because we have the money doesn’t mean we have to spend it. We do not need to search for programs to spend our money on. Therefore we must give back the money while we still have it.
Tax rates are at an all-time peacetime high. When President Clinton took office, federal
Taxes consumed 17.8 cents out of every dollar earned in the United States. Now the federal
Government’s take is 20.6 cents out of every dollar. (USA Today) Budget projections indicate
that over the next ten years, the federal government will have huge budget surpluses totaling about $3 trillion. If we have a surplus at a high tax rate, why can’t the government take what it needs and lower the tax rate?
We need to lower taxes to a rate where the government does not take more than it needs. An example of how these types of practices are unheard of anywhere else is as followed; If I were to go to a bank and ask for a car loan of $10,000 and the car only costs $8,000 the bank would demand that I lower the loan amount to $8,000. Then I might say, “I can find other things to spend the $2,000 on”. The loan officer would laugh and say, “I’m sure you could but I can’t give you more that you need.” The people who oppose cutting taxes clearly believe that the money generated by federal taxes actually belongs to the federal government. Many of us who want the government to give the money back to the people believe that the money belongs to the people who paid the taxes and if they are paying more than we need to run the government, we should give it back.
Our current system of taxation is a varied rate percentage based on different income brackets. Many say that it violates our constitutional rights through unequal taxation. Multiple deductions, loopholes, special rates, and a complex system of regulations all characterize our Federal Income Tax System, prompting many to question why it is still being used (Peters, 2013). The current system although bringing in over $3 trillion, taxes income multiple times, and includes the taxing of estate, labor, savings, and investments (National Priorities Project, 2013). The system itself is complex with over 20,000 pages of regulations, requiring a massive filing system, which is set up and maintained by an even larger IRS, requiring over $225 billion in compliance costs (Hall, 2001). One can be hard pressed to find an advantage in the current system, other than the fact that it provides the government with an enormous amount of funds, and it has...
The country needs to start monitoring how the government is spending the federal budget and they need to start splitting it fairly to benefit our country. 83% of the federal budget is spent on the Big Five which are the main expenses in the budget. We have to stop spending it all on the Big Five. Our government should really pay attention to what we need most of in this country and focus on the needs. The government needs to take away 20% of the Big Five and split it to categories that need it.
To understand this compromise, there needs to be a basic understanding of the United States current tax code, more specifically in this situation the federal income tax code. The income tax makes up 46 percent of the federal governments three trillion dollar internal revenue, that is 1.38 trillion dollars (.N.p.).
II. Implementing a flat tax without significantly increasing the deficit is impossible without shifting the burden from the rich to the middle-class, instead our current progressive tax policy needs to be changed so that it is simpler and does not allow corporations to abuse the tax loopholes.
In many works of literature a character conquers great obstacles to achieve a worthy goal. Sometimes the obstacles are personal impediment, at other times it consists of the attitude and beliefs of others. In the book The Stranger by Albert Camus, shows the character Meursault who is an emotionless character that let’s other people show their opinions and emotions into him giving him a type of feeling even if Meursault doesn’t care. Meursault contains occasion of his emotional indifference between his friends and social indifference. This essay will be about the character’s struggle contributes to the meaning of the work as a whole.
When the Affordable Care Act was put into place President Obama promised that it would not be a tax but it had 5 different taxes related to it. These were a total of $494 billion of taxes for
Introduction Taxes; who benefits and who gets ripped off focuses mostly on Federal and county taxes and not on state taxes. This report aims to give the reader some insight on taxes: Why we have them, what types of benefits they supply, who benefits from them, and who gets screwed by them. It informs the reader of the different types of taxation, where the money comes from and where it goes. How can people avoid some tax increases? But most of all, this report informs the reader that there is an incredible amount of money being wasted by the federal government through overspending and irresponsible behavior of government departments. This overspending has created a deficit that has caused billions of dollars in damage to the credit of the country. As a result of these excess taxes, the American taxpayer is getting ripped off by paying for waste in government. Most people in this country are being ripped off in the amount of taxes they pay due to corruption gover...
When George Washington was elected president, even though he was reluctant, he worked hard to ensure peace in the nation. Washington and his Cabinet knew that taxes were important, and the men were very cautious when passing them. The government was new, and could be overthrown just like the colonists did in the Revolutionary War. Also, the French Revolution was occurring, and Cabinet members didn’t want their government to be criticized to the point of rebellion and violence. Washington and his Cabinet were careful, passing just the Excise Tax on luxury items. The men knew the danger of taxes, but today, that notion has seemed to be pushed aside. The taxes in America are high, and just getting higher, much to the disgust and anger of Americans.
The amount of money that the United States government owes as of October 17, 2004 at 03:48:52 pm GMT was $7,435,016,998.21. The debt has increased by an average of $1.7 billion per day since September 30, 2003! From a more individual perspective, currently the United States population is roughly around 294,555,320. With this number of people, each U.S. citizen would have to pay $25,241.50, just to break even.
Would you like to have more money in your pocket? Most people believe that there will be more money in the packet if the worker’s paycheck is larger. Some people believe the solution is found in regulating the minimum wages paid to employees. There is a good reason you are earning more money, spending more money, but retaining less for personal use. There have been eleven recessions since the decade of the Great Depression beginning in 1929. We must do something about this national financial problem before it becomes a crisis. We may not recover from the next recession. This essay describes the attributes of the “Fair Tax” system, which many informed analysts will be in the best interest of the government of this country, and the people , who live here, especially you and your family. In this essay you will discover how we can alleviate the country’s major issues in financial management, enhance enforcement of immigration laws and improve the financial support of our education system. All this is proposed with change to just one government agency.
The book that I read was called The Stranger written by Albert Camus. The book is globally famous and was translated to many different languages and texts. The original was called L’Étranger which was written in French in 1942. The plot of this story involved a man in his late twenties or early thirties. The man's name is Meursault. In the beginning of the novel, Meursault is notified that his mother had passed away in the nursing home that he occupied her to. Meursault’s income could not afford to take care of his mother any longer; therefore, he put her in a nursing home. Meursault took off of work and went to the nursing home where she passed away to pay his respects and attend the funeral ceremonies. When he arrived at the nursing home, the funeral director brought Meursault to his mother’s coffin. The director asked if he wanted to see her and he quickly replied to keep the coffin shut. Meursault sat in the room and nearly went through an entire pack of cigarettes while blankly watching his mother’s coffin. At the actual funeral, Meursault shows no signs of normal emotion which would normally be induced at such an event.
What is the federal budget? The federal budget is the yearly plan for how the US government will spend its money. After analyzing the federal budget, it was evident that the money was dispersed into three different clusters; the Big Five, the Middle Five, and the Little Guys. Although at first glance, the money may seem to be being evenly dispersed throughout the three, when taking a deeper look, there is clearly a fine line between what the government needs and what the government wants. The real question is; is the United States distributing its money correctly? In my opinion, after much research, the government could do a better job with the way it allocates its money. In each of the three budget clusters, the U.S. government should make
Taxation has always been a major controversy. Just like any major corporation, the government is constantly looking to raise revenue. The easiest and fairest way to do this is by taxing the people. However, how the people will be taxed is always an issue.
Some might see this as a great expense with an increase of taxes. Yet, Congress
The use of taxes is one of the government's favorite ways to make its presence known in the economy. While this method seems blatantly obvious, many of the ways the government uses the money collected by taxation is not. Some of the money it takes is used to fund other programs designed to "protect" consumers and to "create" jobs. Be...