Taxes: What Will Lowering Them Do?

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The clang of a cash register closing in the background as a sale comes to a close. There is a huge crowd hovering over multiple bins and items being ripped right off the shelf as the clock hits midnight. People running to grab the sales they want. This sale happens every year after thanksgiving and everyone wants to have more money to buy those extra things that make life bearable, but sadly this is not feasible in today’s economy. This is due to the governments taxes being at an all-time high. Federal taxation is an issue that should be dealt with now. The government should lower federal taxes because if we lower them, people would get increased funds to spend, the federal revenue would be increased, and the national debt would be lowered. Who doesn’t want more money to spend? With the lowering of federal taxes, there would be an increase to everyone’s check, whether it is social security checks, disability checks, veteran’s checks, or the check at the end of the week that represents all the hard work out in over the previous week. This increase of pay is something everyone desperately needs. Today’s taxes are at an all-time high with a minimum taxation rate of ten percent (U.S 4). With the lowering of taxes, not only would people get increased pay, but this increase of funds would give everyone the sense of relief. This is a relief of not having to struggle like we all have to in today’s economy. In correlation to giving more funds and the feeling of being relieved, it would increase the federal revenue. As it stands, people do not have much to spend, so people hoard all the money they can for times when it really is needed. If the taxes are lowered, people will feel safer and would be more willing to spend more, the... ... middle of paper ... ...axes are filed. Also, there would only be a little bit to be put back into the peoples pay checks by lowering the taxes. It can be disputed that the amount would be so little, that it would not be significant at all. With the federal taxes lowered, everyone gains. We see an increase in pay, which is desperately needed in today’s economy. We see an increase in the federal revenue funds. We see the national debt being lowered. We even see the benefits towards other systems such as the increase of trade and lowered prices in the U.S. in turn giving us more to spend and repeat the cycle. These are the reasons why our taxes should be lowered. Works Cited “U.S. Tax Base.” Issues and Controversies. Facts On file News Services, 1 Oct. 2012. Web. 2 Dec. 2013 “Taxation and Tax Reform.” Issues and Controversies. Facts On File News Services, 28 Jan. 2013. Web. 2 Dec. 2013
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