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Question: Choose a particular tax policy that is in place or could be proposed. Explain why this tax policy is a good thing or not. Give specific details on the implications of such a policy. Responds: Tax cuts are something that are good for many, and have many positive impacts if implemented properly. The Tax Cuts and Job Act of 2017 had many positive effects on the economy and job growth. Since so many changes came with the Tax Cuts and Job Act of 2017, it caused businesses and private entrepreneurs to reconfigure their organizational structure and hire more people with the extra tax savings (Henry, Plesko & Utke, 2018). While it is true that tax cuts do not always see a long term affect that causes wealth and gain, it does, on the contrary, assist people in making positive decisions. Ultimately, these tax cuts give tangible items in the hands of consumers, primarily through cash increasing on weekly paychecks from the tax cuts. Business owners that provide jobs, also receive tax incentives that hopefully results in the employee’s gaining pay raises, or better yet, employment for more individuals to decrease unemployment. Suggesting that tax cuts are bad all of the time, or good all of the time, would display the ignorance on the political polarization. The pushback happens on both sides of the aisle, but unfortunately the business owners and the economy are the areas that suffer. When politics get in the way of tax reform, it is a consumer and business nightmare. While taxes create fear as a general concept, people can benefit tremendously, as they have from the Tax Cuts and Job Act of 2017. Reference: Henry, E., Plesko, G. A., & Utke, S. (2018). Tax Policy and Organizational Form: Assessing the Effects of the Tax Cuts and Jobs Act of 2017. National Tax Journal, 71(4), 635–659. https://doi-org.lopes.idm.oclc.org/10.17310/ntj.2018.4.03 Responds: I think one of the taxes that has been imposed in the last few years are taxes placed on marijuana in states like Colorado and Washington. I think the idea or purpose was to legalize marijuana while still getting something positive out of it. The government has different stipulation of taxes depending on if you are growing it or selling it but the money goes towards programs for education, departments that monitor marijuana, and other drug related programs. I think it is a good idea because the government taxes other things like property to put towards funding schools and I think that taxing a drug like marijuana is a way to make people feel like there is something good coming out of it. Choose an economic period in the United States within the past 100 years (this could be any period of time that you choose). Create a PowerPoint presentation (10-12 slides, not including title and reference slide) that addresses the following: Catalogue what was happening in the economy during your chosen period. Explain what actions the government took in reaction to the state of the economy during this period. Explain if budget deficits and divisiveness in government increased or decreased during this period? Explain why. Describe what, if any, fiscal policies came out of this period. Why were those fiscal policies enacted? Use pictures, graphics, graphs, quotes, etc. to represent your findings. As well as three to five scholarly sources. Include speaker notes below each content-related slide that represent what would be said if giving the presentation in person. Expand upon the information included in the slide and do not simply restate it. Please ensure the speaker notes include 50-75 words per slide.
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