What about the tax plans of democrats and republicans? Basically, the main purpose of both of them is to boost the US economy, which is a good idea, but the key issue is whether they will succeed to achieve it. To boost the current economy, it’s necessary to put a lot of money in Americans’ hands because they are in their economic hardship these days. That’s because they keep cutting their expenses to buy the necessities so that they need to remake their subjects to survive.
However, tax plans are targeted at those people who didn’t notice any serious budget cuts. This means that they are all about those rich citizens who already have their solid financial foundation and job security. It’s worth mentioning that they will add more money to others, but the necessary funds will be taken from a failing economy so that they can disappear as fast as they are gained.
When taking a look at 2 major political parties in the US, you’ll understand that their tax plans have both differences and similarities. For example, democrats prefer to raise different taxes to support the necessary social programs, while republicans decide to lower them to benefit major businesses and corporations. This idea simplifies the policies and tax plans of every party, but it’s true. Remember that each one is going to affect the taxes people pay, regardless of their political choices.
Republicans believe that the government need to tax to raise the money necessary to perform its important functions, such as enforcing different contracts, national security, maintaining the main infrastructure, protecting US citizens against crimes, and so on. They also focus on the role of the government in taxes and how they affect people. Republicans claim that the money authorities spend doesn’t belong to them because they belong to those taxpayers who earned tit. This means that citizens need to keep more money for savings and future investments so that it’s necessary to lower tax policies.
Democrats want to raise taxes to fund government spending and generate businesses, as this is what ensures good jobs and economy. In general, the US government funds certain programs that pump more money into economy. They also believe that prices will stay more or less stable so that any spending type will only improve the economy of this country. The main similarity with republicans is that they think that the government needs to subsidize important social services.
What about the tax plans of democrats and republicans? Basically, the main purpose of both of them is to boost the US economy, which is a good idea, but the key issue is whether they will succeed to achieve it. To boost the current economy, it’s necessary to put a lot of money in Americans’ hands because they are in their economic hardship these days.