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What Fallacies Does Taxes Make In The United States

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Towards the beginning of the class, I had not thought enough about taxes and the more intricate aspects of how it affects the government as well as citizens in the United States. As I continued to ponder on what difference fluctuations in taxes, make in the United States, I realized that there are many fallacies that involve the implementing of tax cuts. One major economic fallacy is the belief that lowering tax rates doesn’t allow the government to have a greater influx of money. Many people do not look deeper into the effects of tax cuts and taxes in general. Specifically, the economy will go unaffected unless lower income earners receive a tax cut. Not much of a difference was examined when the wealthy receive a tax cut because growth …show more content…

Many people support the idea that tax cuts only help the rich because services that are created for the poor and supported by taxes have the potential to be cut. Others believe that by allowing that tax money to instead go to the people, spending will increase as more money is put into the pockets of average citizens. Thus, the economy will prosper. It is after seeking out a balance between these two opinions, that I was able to focus on the fact that where the tax cuts are made are fundamental in how the economy reacts as a whole. This shows that depending on where the cuts are made, the economy can either suffer from a budget deficit or an increase of sovereign debt or it can …show more content…

Many people fail to look farther than how aspects of society benefit themselves. Nothing is free. Where economic the economy is concerned, someone has to, in the end, pay for the item or service. This is important to know in view of the fact that what we do affects others and can even cause us harm in the future without us realizing it in the moment.
In school, for instance, at least once a week, we hear the words, “Free food in the city room.” This food has to be paid by someone, whether it is paid by our tuition, fundraising or some other method the school or clubs utilize in order to raise money. Someone always buys it. Throughout society, especially in college communities, this can be seen on a daily basis and actually causes us, as citizens, to submit to this passive way of viewing life and

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