Tax Cut Policy on Public Term Paper

Download this Term Paper in word format (.doc)

Note: Sample below may appear distorted but all corresponding word document files contain proper formatting

Excerpt from Term Paper:

(the Bush Tax Cut: One Year Later)

The members of the AFSCME believe that the Taxes imposed under the Bush administration has influenced them very unenthusiastically, since it has assisted to restrict their capability to concentrate on vital national problems for fairly a few years, due to the reality that the Tax Act comprises every clause that would help the affluent and well-to-do and might add more new tax cuts slowly, and the entire would render the ultimate bill more costly than even George Bush had planned for it to be. Ultimately, every household holding job would be harshly hit by the plan. Besides, its influence on the question of Public Debt is worrying as well. The reality that novel Tax Cut might rescind the Estate Tax is an issue of apprehension as well, particularly since a majority of the states normally share this proceeds with the federal government. (the Impact of the Bush Tax Cut on Working Families) During May 2003, President George Bush approved one more round of tax reductions, the third in a row of progressively periodic tax reductions which was devised to aid the U.S. Economy to run in an improved manner.

President Bush announced that following this approach of tax deductions every one of America's families as also entrepreneurs will find tax concessions wherein every denizens of America might experience of the tax recovery. This third round of tax deduction has in fact raised the debt limit of the federal government by nearly $1 trillion, helping to increase the debt limit from a level of $6.4 trillion to a whopping $7.384 trillion. The Congress believed that this amount will certainly rise in the subsequent year and the amount will be another $600 billion, following which there would be continuous raises, which might end up in $12 trillion at the end of the approved interval of ten-year. Through provisions of progressive add on short-term basis into the economy, the president George Bush announced his plans of protecting the American economy from a slump and also of increasing the market by producing added employment opportunities and better stock markets and so forth and in this manner affecting the public debt of the United States of America (Bush signs $350 Billion Tax Cut Measure)

Discuss what the difference between public debt and federal debt is the liability of the United States federal government to the extent of money, which it owes, constitutes the U.S. public debt and not which is owed by the states or corporations or persons. (U.S. public debt) the classification of public debt has been made into internal debt which is liable to be paid to the domestic lenders inside the nation, whereas external debt is the money liable to be paid back to the overseas lenders. In includes bonds issues by the government, loans extended by the banks and to a certain extent, liabilities that are not funded like the pension plan payments and products and services which the government has entered into agreements and hence accrued but is outstanding for payment. (Definition of Public Debt)

The estimation of the liability is a matter of political adjustment and ingenious bookkeeping procedures, however, the suppositions in the accounting related to any particular set of numbers can be rendered intelligible. Since these frequently double up as statement having political overtures, they constitute a significant part in the deliberations on the U.S. fiscal policy, the most vital among which is the deficit or shortfall in the U.S. budget. In the least, deficit in the budget should be compensated for the deficit spending that raises the liability. A budget surplus according to U.S. law ought to be utilized to settle the liability. Hence these matters cannot be deliberated differently. The bonds issued by the government constitute a component of the liability of the country as also the loans advanced by the banks and, securities issued by Treasuries. The liability even consists of debts that have not been financed like pension plan payments and, by certain extent Social Security. (U.S. public debt)

Bonds that are raised for infrastructure schemes also constitute a component of the national liability. Several economists, however not everybody take into account the amounts in connection with the bills the government must shell out[continue]

Some Sources Used in Document:


Cite This Term Paper:

"Tax Cut Policy On Public" (2004, November 11) Retrieved October 26, 2016, from

"Tax Cut Policy On Public" 11 November 2004. Web.26 October. 2016. <>

"Tax Cut Policy On Public", 11 November 2004, Accessed.26 October. 2016,

Other Documents Pertaining To This Topic

  • How Can Tax Cuts Revive the Economy

    Tax Cuts How Tax Cuts Stimulate the Economy There are two basic economic theories competing in America today: Keynesian and Classical. Keynesian economic theory calls for the government to influence the economy through government expenditures and collecting of taxes. Classical economic theory asserts that market forces keep the economy in balance and the government should not interfere. However in a strange way, both theories claim tax cuts can stimulate economic growth, the

  • Public Debt and Tax Cut

    In addition, the state's various tax revenues would dry up by the year 2005 according to the new tax plan, and the repeal of the federal estate tax would be gradually phased out over a period of ten years. (the Impact of the Bush Tax Cut on Working Families) In general, all state taxes are based on an equation that says that all credit must be based against a federal

  • Public Policy Themes Public Policy

    An examination of the four basic steps of policymaking reveals this quite clearly. The first step in the policymaking process is the agenda setting that must come before policies are even considered. Bringing problems to the attention of policy makers and thus setting the policy agenda is accomplished by many different players with different aims, from citizen groups to businesses to media organizations and many others. All of these groups

  • Economy in the News Tax Cuts for

    Economy in the News: Tax Cuts for Business In today's current economic situation within the United States of America, citizens are increasingly interested in facets of the economy that were once able to fly under the radar with minimal notice from economic laymen. However, with the country still dealing with the effects of a massive recession, economic initiatives undertaken within the country have come under intense scrutiny from the American public,

  • Policy Problem & Proposal Policy Problem the

    Policy Problem & Proposal Policy Problem The United States faces a $1.4 trillion national deficit, and partisan debate about how to address it is threatening economic stability on top of the shaky "recovery" from the 2009 financial crisis. Yet American corporations continue to enjoy tax loopholes that reduce their taxes to unprecedented low levels. Republicans argue that corporations must retain their preferred tax status in order to maintain and create jobs. This

  • Public Government Finance

    Public/Government Finance Public (Government) Finance This essay examines the debate over extending unemployment benefits. The essay reviews the arguments in favor of and against further extensions, and the implications for economic and social policies. After exploring the alternatives, I make a recommendation and discuss means of measuring the success or failure of my recommendation. The Apparent Problem/The Facts Unemployment insurance is compensation that is provided to workers who become unemployed through no fault of

  • Public Sector Comparator Psc in Public Private Partnership PPP Process...

    Public Private Comparator Public Sector Comparator (PSC) in the Public-private partnership (PPP) Process Increased global financial pressures have caused many government entities to cut costs in any way possible. One way is to outsource services or projects to private companies. However, when comparing costs, the public sector frequently bases its cost calculations for a project by omitting certain types of factors. These can include employee benefits, utilities, or total administrative costs. As

Read Full Term Paper
Copyright 2016 . All Rights Reserved