As I said before, government needs to stay limited and allow private industry to produce capital. However, taxes on these profits and on all other ranges of things exist. This money goes to the government, which is responsible for sending it to the specific sectors requiring funds. There are currently over 300 million people in the United States; if 10% of the population were to not pay their taxes, and taxes were only $1 annually, the government would recieve $270 million, 1/4 of one billion. We currently have $13 TRILLION debt – I doubt that we would be able to tax our way out of this. If we get a new, more responsible government to move funds to economically stimulating industries that can increase profits.
Taxes themselves should be limited; there needs to be a fixed, reasonable rate at which we can be taxed. The rich do not need to be taxed more, because the extra money they make always goes back into either their business or into other places like food, employees, or other supplies. The poor should not be taxed less, due to their lacking money. We need to influence them to do better, yet let them take the initiative to get to a higher position. The government needs to use common sense (a rarity in Washington these days…) and allow people to make a profit so they can tax them as they rightly should.
Posted on July 13, 2010, in Businesses, Spending and Finances, Uncategorized and tagged American debt, deficit spending, lower taxes, taxation, taxes, united states taxes. Bookmark the permalink. 1 Comment.