Lowering Income Tax
Around 47% of Americans did not pay income tax in 2012. In 2007, before the economic downturn, 40% of households did not owe federal income tax (Lehnardt 1). Under those circumstances, lowering income tax will bring in more jobs, thus making it easier for Americans to gain wealth.
Since the 1970s, tax development has always been a big problem from than to present day. “Tax benefits were [taken away] in 1986, [were] prices dropped and many lost money” (Reed 32). Without these tax benefits, American’s would lose their jobs one after the other because how fast they would lose the money they originally had. “The IRS issued a more [reliable income tax] that went towards the middle aged men with third party exchanges” (33). Taxes should be lowered …show more content…
“President Obama and Speaker Boehner have included the idea of lowering the tax rate. (PR Newswire 1). “Tax rates have actually gone higher when corporate tax first came out to present day. “[In 1909, the first] corporate tax [rate was] 1% for all business above $5,000, until today… $18.3 million in income paying 35%.” (1). Americans have been asked the question “Would lowering [the world’s highest rates] help drive unemployment below it’s currency” (3). Some pro’s to this argument is that by “lowering corporate taxes will result in the increase of investments in the U.S making more jobs, according to a 2006 article (3). “The average five-year unemployment rate decreased from 1987-1991 after the [U.S] lowered the income tax rate (3). This evidence from the article shows how much better it is to have the tax rate lowered, because we get more benefits from it. If rates were lowered now than it was from 1987-1991, Americans would actually try to get a job with the income tax being so low. In conclusion, “[The United States] has the highest effective corporate tax rate (27.6%) than 164 out of 183 [countries]” (7). This information proved, does not mean> we are better than the rest. It is just restating again, on how we are one of the biggest countries that are in debt because we do not know how to manage money correctly.
Lowering tax income can provide not only more jobs for the American citizens, but a better understanding on the benefits, equality and overall tax that history has done for us over the
Since the 1970s, tax development has always been a big problem from than to present day. “Tax benefits were [taken away] in 1986, [were] prices dropped and many lost money” (Reed 32). Without these tax benefits, American’s would lose their jobs one after the other because how fast they would lose the money they originally had. “The IRS issued a more [reliable income tax] that went towards the middle aged men with third party exchanges” (33). Taxes should be lowered …show more content…
“President Obama and Speaker Boehner have included the idea of lowering the tax rate. (PR Newswire 1). “Tax rates have actually gone higher when corporate tax first came out to present day. “[In 1909, the first] corporate tax [rate was] 1% for all business above $5,000, until today… $18.3 million in income paying 35%.” (1). Americans have been asked the question “Would lowering [the world’s highest rates] help drive unemployment below it’s currency” (3). Some pro’s to this argument is that by “lowering corporate taxes will result in the increase of investments in the U.S making more jobs, according to a 2006 article (3). “The average five-year unemployment rate decreased from 1987-1991 after the [U.S] lowered the income tax rate (3). This evidence from the article shows how much better it is to have the tax rate lowered, because we get more benefits from it. If rates were lowered now than it was from 1987-1991, Americans would actually try to get a job with the income tax being so low. In conclusion, “[The United States] has the highest effective corporate tax rate (27.6%) than 164 out of 183 [countries]” (7). This information proved, does not mean> we are better than the rest. It is just restating again, on how we are one of the biggest countries that are in debt because we do not know how to manage money correctly.
Lowering tax income can provide not only more jobs for the American citizens, but a better understanding on the benefits, equality and overall tax that history has done for us over the