US Public Financial and Fiscal Policies Essay examples

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The US has the largest single national economy in the world. As it is a democratic society one might assume that the wealth is equally distributed amongst its people. In reality the nation is severely segregated in terms of who has the wealth and all the benefits associated with it. A central aspect of this unequal distribution results from Government Fiscal policies. This is especially true of Tax Revenue, with all the possible breaks, exemptions and loopholes that currently exist. The major benefactor of the current Tax system is what is commonly called the “1%”. This refers to the one percent of the population who control approximately 40% of the country’s wealth. Given this inequality it is imperative to consider alternative Economic policies, which might help bridge the gap between the “1%” and the rest of the population. There are many possible adjustments regarding the current Economic policy in America that would benefit the masses and the subsequent redistribution of wealth would ameliorate the current economic situation.

There are two schools of thoughts when regarding the situation at hand, obviously both come from the different parties involved in Politics. The general Idea goes as follows “Democrats support progressive taxes i.e. they want high-income individuals to pay taxes at a higher rate. They support higher taxes on the wealthy to pay for public programs. Republicans support tax cuts for everyone (rich and poor alike). They consider higher tax rates on the rich a form of class warfare.” It is often perceived that the rich are actually the job creators and therefore taxing them heavily would impede job creation. Before we consider any alternatives it is important to educate ourselves on the issues at hand a...

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...ig Tax Breaks Equal Big Cash for the Top 1%. 2013. Chart. National prioritiesWeb. 21 Mar 2014. .
"Issues - Economy — Barack Obama." Organizing for Action. N.p., n.d. Web. 19 Mar. 2014. .

"Minimum Wage." Minimum Wage - Wage and Hour Division (WHD) - U.S. Department of Labor. Department of Labor, n.d. Web. 22 Mar. 2014. .

Hargreaves, Steve. "15% of Americans living in poverty." Money Cnn. 17 september 2013: n. page. Web. 24 Mar. 2014. .

Clemmitt, Marcia. "Attracting Jobs." . CQ Researcher, 2 march 2012. Web. 24 Mar 2014. .

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