The United States should prioritize tax increases over spending cuts.
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The United States should prioritize tax increases over spending cuts.
“For every benefit you receive a tax is levied”- Ralph Waldo Emerson.
We cannot improve the state of the lives of Americans or the national debt crisis without raising taxes. This fact leads us to affirm the resolution that the United States should prioritize tax increases over spending cuts.
First, we will define a few terms using the Merriam-Webster defintions.
To prioritize – to designate or treat something with more importance than another; To arrange or deal with in order of importance tax increases - anything which generates a higher level of revenue for the government
These two will come to be relevant as we move through our case, effective tax rate - actual % people pay from their income to the government marginal tax rate - amount that people are supposed to pay from their income
Our first contention is that increased taxes have had and will continue to have more consistently positive economic impacts than spending cuts, especially in the long run. Tax increases are a more effective way in dealing with the debt and deficit crises over spending cuts and should be prioritized because of it.
During the Clinton administration, the average tax rate across the board was 23 %, while today the average tax rate is 19 %. This is a $425 billion dollar difference, according to Forbes. With this higher tax rate, Clinton’s administration held a balanced budget. The Clinton years showed the effects of a large tax increase that Clinton pushed through in his first year. The tax increases of that time in comparison with the previous administration fell almost exclusively on upper-quintile taxpayers. $236.2 billion; the amount the national debt decreased during the Clinton era. Not only did higher tax rates lead to a federal surplus, it allowed us to take a bite out of the biggest American problem, the national debt. Since the Clinton era, our government, economy, and
The United States should prioritize tax increases over spending cuts.
“For every benefit you receive a tax is levied”- Ralph Waldo Emerson.
We cannot improve the state of the lives of Americans or the national debt crisis without raising taxes. This fact leads us to affirm the resolution that the United States should prioritize tax increases over spending cuts.
First, we will define a few terms using the Merriam-Webster defintions.
To prioritize – to designate or treat something with more importance than another; To arrange or deal with in order of importance tax increases - anything which generates a higher level of revenue for the government
These two will come to be relevant as we move through our case, effective tax rate - actual % people pay from their income to the government marginal tax rate - amount that people are supposed to pay from their income
Our first contention is that increased taxes have had and will continue to have more consistently positive economic impacts than spending cuts, especially in the long run. Tax increases are a more effective way in dealing with the debt and deficit crises over spending cuts and should be prioritized because of it.
During the Clinton administration, the average tax rate across the board was 23 %, while today the average tax rate is 19 %. This is a $425 billion dollar difference, according to Forbes. With this higher tax rate, Clinton’s administration held a balanced budget. The Clinton years showed the effects of a large tax increase that Clinton pushed through in his first year. The tax increases of that time in comparison with the previous administration fell almost exclusively on upper-quintile taxpayers. $236.2 billion; the amount the national debt decreased during the Clinton era. Not only did higher tax rates lead to a federal surplus, it allowed us to take a bite out of the biggest American problem, the national debt. Since the Clinton era, our government, economy, and