Autumn Vacio: Turn on the television or radio, pick up a newspaper or magazine, and you’re likely to find something on the subject of taxes. This debate is especially prominent as it relates to the federal deficit and debt. On one side is the argument that if you cut taxes government revenue will fall and the debt will expand. Others contend that cutting taxes stimulates the economy which, in turn, leads to an increase in government revenue.
Johnny Sirko: They can. Taxes don't exist in a vacuum and there are too many variables to make a blanket statement. If you cut sales tax rates you are likely to decrease revenue. If you cut income tax rates you are likely to see more sales tax revenue because people will have more of their productivity to deploy into the economy. There are lots of kinds of taxes and many kinds of revenue. And people will adjust behavior based on changes made in tax policy.I am politically homeless- I exist in a rare air beyond political partie! s. I read google business, yahoo finance, marketwatch, bloomberg, IBD, CNBC, business insider, and a bunch of other stuff....Show more
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