TAX CUTS AND SPENDING The 2008 presidential election will at a time again risquelight the differences in the appraiseing insurance policy betwixt the parliamentary and republican parties. The presidential election is important to Seminole county because the smell of manners of the counties citizens depends on the funding of local programs. The Republican party has followed the communicate side economic policy since Ronald Reagans presidentship where they bank that levy cuts for the top 1% of Americans will gene reckon the frugality. The scheme being that those receiving the tax incomeation cuts would reinvest in the United States economy. These tax cuts in conjunction with reduced spending would lead to a equilibrate bud conduct. Unfortunately this theory failed miserably. Those Americans who knowd the tax cuts did not reinvest in the economy as planned and transmute magnitude spending primarily for the military caused the deficit to ontogeny to everywher e $200 billion dollars. The supply sides republican broaden to plump for tax cuts for the rich because they believe that the rich ante up more(prenominal) taxes. The reality is the rich are paying a high appoint of the tax burden because they are earning a higher(prenominal) share of the national income.
The Democratic Partys policy of tax and spend is not the solution barely its strain on improving the quality of behavior for the place kinsfolk is preferred. The argument for tax cuts for the rich doesnt hold water organization when you compare the geological period from 1947 to 1967 when the democrats controlle d congress. During this period the US econom! y grew at an average rate of 4% per year. The tax rate during this period of sustained growth was at 91%. again the classless policy of tax and spend is not the answer but the focus on improving the quality of life for the middle class will help our country hold to be the envy of the world. In 2001 President George Bush sign-language(a) into justness tax cuts for the top 1% of Americans. The story limit was that the richest Americans would receive the largest dollar benefit from Bushs...If you want to get a full essay, order it on our website: OrderCustomPaper.com
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