The Economy

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Taxation Taxes

Taxes are necessary to run our country. No one group, individual or corporation, should be overly burdened in handling their fair share of taxation, and fair does not always amount to equal.

Each issuance of tax regulation will require an analysis and response to the regulation.

As for the tax code passed in 2017, I agree that there should have been adjustments to corporate taxes, and an easing of the burden to all income brackets under $80,000 a year. Also, there should have been additional consideration to small business owners and entrepreneurs who might then grow into the higher corporate tax brackets. I did not agree with the tax decreases for the wealthiest citizens or the newest exemptions on transferring generational wealth.

The Budget Budget

The federal government cannot continue to spend more than it takes in. This would mean cuts to programs and funding.

Nobody wants to see a reduction in their budget, but our spending is out of control. The current debt sits at around $21 trillion. This number is an estimate because it grows every second.

The interest alone on the federal debt for last fiscal year was $266 billion dollars. This was the 4th largest budget item behind Social Security, the military, and Medicaid/Medicare.

There are no easy solutions to this problem as efforts to balance the budget and decrease the deficit typically hurt economic growth, which in turn lowers the GDP. Legislators must work together for common solutions for the common good however daunting the task.