Politics - Support A Free Tax Cut Wherever Possible?

As with any political decision, a free tax cut is one that has strong views and arguments on both sides of the board. A free tax cut is one in which taxes are cut back and don't appear to cost the taxpayer anything on other taxes later on. At a glance, many would be in favor of a free tax cut. After all, who is going to argue about saving a few more dollars of their hard earned paycheck? However, many see those few dollars as a price to pay to save greater amounts down the road. Both sides to this argument hold a degree of merit.

Reasons For Free Tax Cuts

The reason somebody might want a free tax cut is an obvious one; instant gratification now by having less money taken out of your paycheck. One of the biggest arguments in favor of tax cuts is that the money belongs to those that earn it, and that even though those people may agree to give up a small amount of their income for certain national services, the money isn’t there to be taken and used however the government sees fit.

It is also makes sense to have a tax cut when the economy is on the rise and the government’s finances are in a surplus. Many argue that the government will spend every dollar it gets, and that the only way to maintain and lock up that surplus is to put it back into the hands that earned it.

Reasons against Free Tax Cuts

The reasons against tax cuts can be just as compelling. The biggest arguments against tax cuts are usually aimed at “targeted” tax cuts; that is, tax cuts that seem to offer the greatest tax relieve to the upper class on the financial ladder, while generally forgetting about middle and lower class workers. Often the proposed purpose of a tax cut is to ease the financial burden of things like debt, but it is the lower and middle class families that need to worry most about this, thus it only hurts the economy more by allowing a tax cut that targets the upper class.

Another common argument against tax cuts comes is a direct counter to the idea of giving tax cuts during a financial surplus. Nobody who understands anything about the economy honestly believes that when the economy is on the rise, it will always continue to rise. Sooner or later, finances are going to level off, and then possibly start to go back downhill. Many believe that tax cuts made during a surplus are only going to hurt us more later on when the economy levels off and starts its inevitable decline. Thus, a tax cut during an economic high point will only cause more drastic problems for a debt-ridden government that should have had more funds when a recession begins.

Obviously, there are countless arguments that can be made either way. Hopefully, these few highlights will give you enough to offer at least an informed opinion before diving into your next political argument.