Surplus
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Due to outstanding economic times we now face a federal budget surplus. This surplus is the first one since the mid sixties. Before now we have been in a federal deficit. Because our good situation we are face with a tough decision; what do we do with the extra money. Some people think we should put the money in government programs others think we should give it back to the people who gave the government the money. Giving the money back to the taxpayers appears to be the most logical thing to do with the surpluses.
The government has a moral obligation to give the money back to the taxpayers. The government does not have anything to spend the money on now. Just because we have the money doesnt mean we have to spend it. We do not need to search for programs to spend our money on. Therefore we must give back the money while we still have it.
Tax rates are at an all-time peacetime high. When President Clinton took office, federal
Taxes consumed 17.8 cents out of every dollar earned in the United States. Now the federal
Governments take is 20.6 cents out of every dollar. (USA Today) Budget projections indicate
that over the next ten years, the federal government will have huge budget surpluses totaling about $3 trillion. If we have a surplus at a high tax rate, why cant the government take what it needs and lower the tax rate?
We need to lower taxes to a rate where the government does not take more than it needs. An example of how these types of practices are unheard of anywhere else is as followed; If I were to go to a bank and ask for a car loan of $10,000 and the car only costs $8,000 the bank would demand that I lower the loan amount to $8,000. Then I might say, “I can find other things to spend the $2,000 on”. The loan officer would laugh and say, “Im sure you could but I cant give you more that you need.” The people who oppose cutting taxes clearly believe that the money generated by federal taxes actually belongs to the federal government. Many of us who want the government to give the money back to the people believe that the money belongs to the people who paid the taxes and if they are paying more than we need to run the government, we should give it back. Why should we give the government more than it needs, so the can squander our money away?
Besides the money being ours. We have democratic rights. We live in a country where the people rule. If this is the case then according to a political poll done by Pew research center, only 34% of Americans polled are against giving the money back to the people, opposed to 53% who want the money back in the hands