Sunday, December 02, 2012

Analysis: What are the best fiscal and political decisions that could be made on these public policy topics?

What is the fiscal cliff?
http://bonds.about.com/od/Issues-in-the-News/a/What-Is-The-Fiscal-Cliff.htm

Latest news on the fiscal cliff:
http://www.cnn.com/2012/12/02/politics/fiscal-cliff/

19 comments:

Natalie Sobierajski said...

The best policy issue would have to be to extend the Bush administration tax cuts, like the first website mentioned. The second website mentioned that the Senate has already voted to extend the Bush cuts for incomes under 250,000. While this won't have a huge impact and make a huge boom in economic growth, it will at least be a fruitful start.

Nick Berry said...

I think the best fiscal decisions would be to keep the Bush tax cuts in order to prevent tax hikes on working Americans. This would allow citizens to have some more personal money to buy more goods (especially in the holiday season) in order to feed the economy. If taxes stay the same then spending would have to be cut in some federal programs to reduce our financial debt. The best political decsion would be to start passing more bipartisan laws and/or compromised laws. Americans (and even foreign nations) would then start to have more faith in our political system.

Bethany Bendtsen said...

I think the best thing for the economy is not to delay the decision as has been done in the past. Uncertainty about the fiscal cliff and the economic future of the U.S. is negatively effecting the stock market and consumer spending, slowing any possible economic improvement. I think a combination of spending and tax increases should ideally occur to get bipartisan support and limit deficit growth and the possibility of economic recession, but so far a middle-of-the-road approach is not working. Whatever agreement is reached, it needs to be reached now. It is not a good choice to avoid this "fiscal cliff" just to head straight towards a self-imposed 2013 "cliff".

Bethany Bendtsen said...

I think the best thing for the economy is not to delay the decision as has been done in the past. Uncertainty about the fiscal cliff and the economic future of the U.S. is negatively effecting the stock market and consumer spending, slowing any possible economic improvement. I think a combination of spending and tax increases should ideally occur to get bipartisan support and limit deficit growth and the possibility of economic recession, but so far a middle-of-the-road approach is not working. Whatever agreement is reached, it needs to be reached now. It is not a good choice to avoid this "fiscal cliff" just to head straight towards a self-imposed 2013 "cliff".

brody kraussel said...

I think the beat fiscal decision would be to keep bush tax cuts so taxes won't be higher on working Americans, this way citizens can spend more on necessities and other materials, while doing this helping the economy. The best political decision would be having compromised laws

Zach Matusinec said...

I think we should keep the Bush tax cuts. Removing them will hurt the middle working class. Doing this will indirectly harm the economy. With more money in taxes, this people will not be able to stimulate the economy with their hard-earned money.

KurtO said...

I believe the best policy issue is to continue the Bush era tax cuts to all but the wealthiest americans. In addition to this we need to initiate spending cuts to take control of our debt that is spiraling out of control. The programs that we should impliment spending cuts on is military and medicare. Our military is currently recieving more revenue than the next top 10 militaries combined, more than a trillion dollars a year. As for medicare we will need to limit who gets the benefits in the future or it will drive our debt even further. Currently medicare supplies health insurance to retired americans, the young and those with disablities. I believe that we would need to limit which retires will recieve medicare because in the next few decades there will be more retired americans than working americans, because the baby boomers will be starting to retire. This will cause an ever so greater portion of the national government's tax revenue and will eclipse that revenue altogether. I know it is a hard choice to decide which programs to cut, and to reduce spending for. But ultimately, I believe that Washington will not reach an agreement to do anything becouse it is currently too divided to pass anything that does not have a clear solution to everyone, even if it is as urgent as this.

Kayla Kenney said...

I believe that the best fiscal and political decision that could be made is to keep the lower taxes on the working people. However, increase the amount of taxes for the rich. The rich would be any person thats annual income is over $1.5 million. This way it does not hurt our economy as much as it would from increasing on the middle class. If you keep the taxes the same on the middle class they will continue to spend, which impoves the economy. Unlike, increasing the taxes and having the middle class not spend as much.

Jared Lederman said...

I believe the best policy is to continue the Bush tax cuts to prevent taxing raises on working americans. This will not harm the middle class and although it wont bring up the economy a ton, it is a good start.

Hannah G. said...

Extending the Bush tax cuts in my opinion would be the best decision, because of the positive affects on the american economy and the affects it has on hard working middle class Americans.

Hannah G. said...

Extending the Bush tax cuts in my opinion would be the best decision, because of the positive affects on the american economy and the affects it has on hard working middle class Americans.

Matt Gilson said...

i think the best policy would to keep taxes low on businesses so they have more room to grow and higher more workers and if there are more workers there will be more people able to pay taxes. also taxes should be raised for households so the countries revenue would recieve a double boost in revenue becouse of new workers and higher taxes.

Matt Gilson said...

i think the best policy would to keep taxes low on businesses so they have more room to grow and higher more workers and if there are more workers there will be more people able to pay taxes. also taxes should be raised for households so the countries revenue would recieve a double boost in revenue becouse of new workers and higher taxes.

Kyle Johnson-Evers said...

In my opinion the best idea would be to get rid of the Bush tax cuts all together but then add a new smaller tax cut for the middle class and lower class. Keeping the tax cuts would not solve the problem of the fiscal cliff.

Haley S said...

I think the Bush tax cuts should be continued. This will prevent increased taxes on many hard-working Americans. It will allow United States Citizens to have more money, therefore allowing them to be able to spend more.

jake medved said...

The best decision would be to keep extending the tax cuts put in place by the Bush administration. This will greatly help the middle class, which will also help the economy.Another good choice would be to raise taxes on the upper class.

Brittany R said...

I think the best decision for the fiscal cliff would be to keep bush tax cuts so taxes won't be higher on working Americans.With the Holiday Season soon approaching this would allow citizens to spend more on necessities and other materials. By doing this, it will indirectly harm the economy. With more money in taxes.

Nadia Tabbal said...

I think removing the Bush tax cuts would hurt the economy. Keeping the tax cuts would greatly help the middle class and would start an improvement for the economy.

Kaitlyn L said...

Removing Bush Tax cuts would hurt our economy. We should keep taxes low on businesses so they have more room to grow. Also, keeping room to grow makes for more employment, which increases rates of people actually paying their taxes and being able to afford them.