What do you guys think of the US Federal Budget? What do you think should be done to stop deficit spending and create a surplus?
Corporal
Discussion on US Federal Budget
What do you guys think of the US Federal Budget? What do you think should be done to stop deficit spending and create a surplus?
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Originally Posted by Cemetary
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impeachment
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companies should stop laying people off in order to pay less taxes. They should stop seeking bailout money. Lower Exec's salaries and benefits and start working toward the good of the poeple rather than the good of their wallet.
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Command Sergeant
thats bad for the economy and governemnt budget.
let me show an example. i'm assuming the US also has progressive tax.
so say an investment banker earns 200 thousand a month, including bonuses (which normaly falls within normaly income tax). he pays a 40% tax. this means he pays 80 thousand USD in tax for the governemnt.
on the other hand, one might go and say. hey' lets take thaat guys bonus away and pay poor workers. lets give 100 workers 2 thousand dollars a month. they only pay 20% tax on that.
in total they earn the same 200 thousand, but only pay 20% tax. which means the governemnt gets 40 thousand in tax only.
and add to that, whiel the 2 thousand is only enuogh for each workers to live off, and leaves him little to put back and save, the bankers has much lower living costs as a % of his salary. this leaves him more money to invest back into the economy, buying shares, helping companies raise funds to hire more employees, buy real estate....
lowerign manager salaries or caping bonuses is one of the worst things a govenremtn can do for their fiscal policy and economy.
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But that's communist thinking. Americans don't like that.
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