Presidential Election getting closer, we are seeing candidates’ plans to solve our national debt of roughly 16 trillion dollars. With our country’s debt increasing by 4 billion dollars a day, we desperately need a miracle in the form of an effective debt reduction plan. With Obama struggling to fulfill this task, many people have been coming up with their own ways of solving this crisis. For, at this rate, my generations and the generations to come are being sold into “perpetual debt slavery! At any rate, I believe that if we cut all department funding by 10%, cut corporate tax rates, and drastically cut all federal funding to entitlement programs we can begin to trim the debt. (topic #1) In order to help reduce the debt, the ALL departments should receive a 10% cut in funding. This saves us billions right off the bat. You might ask, well how are these departments going to function with this funding cut? Well, just like any business, if there is a reduction in funds the business has to find a way to survive! The cut requires departments to find a way to do more with less.
However, 10% really isn’t a significant cut for government departments and I believe these departments can find a way to continue functioning. Many people are criticizing Romney for his plan to necessitate very large cuts in Medicaid, education, health research and other programs. What people need to realize is that these cuts are 100% necessary to solve our debt crisis. It’s not going to be easy to do this, but for the sake of the future of our country we must cut spending/funding! Next, cutting corporate tax rates will help business in our country.
The Term Paper on Would A Cut In Corp. Tax Rate Be Beneficial?
Doesn’t everyone want to keep what he/she has earned? It has always been somewhat tradition for Americans to work hard for their money, only to see some of it squandered away come tax time. Wouldn’t a tax cut, for some, be like a divine, heavenly grace? As the year 2001 unfolds and George W. Bush begins his presidency, income tax rates have, in fact, become a concern. President Bush is pushing for ...
Specifically, it will create strong incentives for businesses to hire. Recently, we have seen that businesses have been reluctant to hire new staff. With more people working comes more people making money. More people making money means more money in taxes paid to the government. Also, the government needs to stop th outsourcing jobs. Businesses outsource employees because of the very high U. S. corporate tax rate. The U. S. ’s tax rate is 39. 2%, the 2nd highest corporate tax rate of all the other industrialized countries.
So to avoid this harsh tax rate, many jobs are moved overseas. This is a bad thing for our country because we don’t end up using our employees or getting taxes from those employees (topic #2).
Last but not least, we should drastically cut the funding of entitlement programs. Entitlement programs such as welfare, disability, and food stamps have become a ridiculous method of leeching onto the government. It is an abusive system and the government is only making it worse by providing these “leeches” with cell phones and cable television!
It’s as if the democratic are “giving treats” to these people just to gain their support and votes in the election. By cutting the funding hopefully people will realize there is a country filled with opportunities if they just get off your butts and stop living off the government.
