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Now, you tell me if this is possible…
“I’m going to submit a budget for Congress to look at that shows how we can balance the budget in five years and keep your taxes low,” George Bush said in a speech to workers of heavy equipment maker Caterpillar.
The US is in huge debt, it is losing money, it is waging a war, how is it that this man can balance the budget while keeping taxes low? I have one question; What cuts are going to be made to turn the economy around? Healthcare? Education? If you have to raise taxes, raise them, cutting services that people need can’t ever be good.
I’m no expert, but I have an interest in economics which probably has more impact on our lives than politics and the environment put together.
As I understand it, the theory is that reducing taxes will stimulate the economy. The tax rates will be lower, but the increased activity will generate more tax revenue.
I don’t know if that’s always true and of course if you take it too far (no taxes at all), it’ll never work.
Hm, I guess that’s possible but I don’t understand how that can be in a budget? Any stimulation of that sort would have to be entered into a budget using total guesswork wouldn’t it?