Fiscal Policy Paper
- Pages: 2
- Word count: 387
- Category: Finance Government Policy
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When it comes to the United States deficit, surplus, and debt have an important impact on taxpayers including the current state of our economy and the large deficit we continue to run in the first place one of the first things that seem to be brought up by the government assistance is through unfair taxation or other cuts which puts people out of jobs and has an effect on the educational system you name it. America has a real threat of higher tax in this country from the need to cut the budget or raise taxes and if they were to lower taxes this will lead to more spending, hiring individuals, and more taxes.
When a deficit is ran by the United Sates economy, it will accumulate a larger debt over a period of time and if taxpayers are loaded with higher tax implications, this could deliver a surplus of funds for the government. If this occurs, the government has additional funds and can afterward use it to reduce the United States debt, when coming out of a deficit, or even the surplus could be repaid to the American taxpayers. Future Social Security and Medicare Users
Social Security produces large surpluses by collecting more in taxes from workers than it paid in benefits to those who qualify so it takes a negative toll out on the resources of the people who work hard for there money. It does not seem right that the government would be taking more than they actually use for the purpose of covering individuals without jobs. These surpluses helped fix the budget deficit being generated by the federal government but the government must focus on paying off the debt so future generations will have Social Security and Medicare available.
The government needs to use different resources to obtain funding instead of just using Social Security and Medicare as a means of draining people’s checks. For the future of Social Security and Medicare users the government should develop a method to determine the most qualified participants. If the government develops a system that gives a reasonable about of money to those who actually need the funding, it will allow the future generations the opportunity to still have these options available as opposed to draining the needed resources before its time.
