Tax Cuts

Although taxes have consistently strengthened the economy while contributing to infrastructure, the misappropriation of taxes is truly a problem in the United States of America. We have a culture in which the wealthy pay more to subsidize for the less fortunate. By incorporating a flat tax, corporations would be inclined to spend more of their revenue in the economy which in turn, can lead to more job growth and a stronger economy as a whole.

We can learn to change the current tax system by understanding how it works and what it is not doing correctly. The current tax system tends to tax the upper class significantly more than the lower classes which inhibits their want to invest in their respective businesses as well as the economy. This is extremely significant due to the fact that it results in less job and economic growth for society as a whole. Moreover, the discrepancy of taxes is apparent in the foreign investments businessmen are beginning to make overseas. This is extremely noteworthy due to the fact that foreign citizens would in turn be benefiting rather than the American people.

By the same token, the lower class tends to feel a sense of entitlement when it comes to taxes. They believe that the upper class is automatically responsible for paying their taxes for the simple fact that they make more money than they do. This ideology needs to stop due to the fact that a business man making a hundred thousand a year has a significantly larger portion of their income taken away for the simple reason that they make more money. Clearly, this does not make sense.

Another benefit that lower taxes could bring to corporations is incentive to pay their employees more. This is due to the fact that there would be more money left over at the end of the fiscal year. By incentivizing employees to work harder, better, and more efficiently, businesses would thrive financially while minimizing expenditures at the same time. As Donald Trump said during his 2016 presidential campaign, in which he won by significant proportions, “China is killing our jobs.” This statement is incredibly and fundamentally insightful due to the fact that businesses are more inclined to take their businesses into countries in which regulations are lowered and the tax bracket is almost non-existent.

As a society, we must begin to change the way we view taxes and the appropriations as whole. This begins by communicating with our local representatives in order to ensure that they know what we (the constituents) want from the government. By assuming that taxes are going to one day be lowered, we are not doing ourselves any help. By mobilizing the United States Congress, we can begin to pass legislation which can ensure lower taxes for the upper-class and corporations in order to generate job growth and a much stronger economy than we are seeing today. If we continue to adopt our current tax system, we will not be able to have growth of any kind.

 

 

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