Saturday, November 6, 2010
Voters to States: No New Taxes
This article discusses some of the tax cuts that have been occuring at the state level in the U.S. Many tax laws that are being voted on are either not being passed or getting erased if they already exist. This shows people's concern for money in our economy right now. People are trying to reduce all of these taxes in order to increase consumption due to their large desire to consume. The state residents want to be able to spend more and see an opportunity to achieve this desire by voting against taxes. This is proving to be a successful strategy for the people. On the other hand, the government is at a point where they claim to need the money that comes from taxes more than ever. So, this creates a dilemma between the state residents wants and needs and the wants and needs of the government.
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I think it is more important to look at what the state residents want more so than the government because that will enable consumer confidence and allow consumption to increase and increase jobs hopefully.
ReplyDeleteIt makes perfect sense that people would vote down taxes during these economic times. Many people are looking for any place to cut back, why not taxes? Lower taxes allow people to consumer at a higher level. This proves why consumption is a driving factor of the economy. People are happier not when they earn more but when they consume more.
ReplyDeleteMaybe a tax break is what this government needs to do. The Fed already pumped billions of dollars into the economy and as we are seeing it is not recovering at a very fast rate. So maybe a tax cut is what Washington needs to do.
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