Which is better for the economy? High or low taxes?
Which kind of tax would benefit the economy? For example if everybody paid 60 percent or something crazy or like a 5-9% tax rate. Which would be more beneficial?
High Taxes
Side Score: 16
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Low Taxes
Side Score: 30
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High taxes are only better for the economy if those taxes are being spent by the government on projects that are likely to generate further wealth or jobs. When the government is exercising austerity they are taking money out of the circular flow of income. With less money in the economy, economic growth is slowed. When growth is slowed fewer jobs are created less consumer spending occurs, business revenues don't reach their full potential and it creates a vicious cycle, that can seriously harm the economy. Side: Low Taxes
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We have high taxes where I live .. like the one's you said. 60% for some, higher for millionaires. We have free healthcare and education. But I would rather pay for it, since the medical care we get here is limited. I can not go to the doctor unless I am bothered with something. If I'm afraid I got something .. doesn't matter, until it affects my life in other forms than ''fear'' the doctor will not examine me. In a private hospital, I can pay for an examination. Side: Low Taxes
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Lower taxes help the economy. When you have lower taxes, employers can pay their employees more, and the consumer can buy more things with the excess money. It would help the economy to lower taxes and let it take its natural course, instead of higher taxes and relying on the government to bail you out, with your own money. Some businesses would fail in the beginning due to lost government funding, but others would pop up in their place once people started to buy stuff again. A flat tax all around would be a nice start, say around what you said of 5-9%. Truthfully, I feel I shouldn't pay the government more than I pay God. Side: Low Taxes
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