The Instigator
Parvizal
Con (against)
Tied
0 Points
The Contender
RonPaulConservative
Pro (for)
Tied
0 Points

Should we reduce taxes in the United States?

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Voting Style: Open Point System: 7 Point
Started: 12/10/2016 Category: Society
Updated: 1 year ago Status: Post Voting Period
Viewed: 423 times Debate No: 97907
Debate Rounds (2)
Comments (1)
Votes (0)

 

Parvizal

Con

Good Day.
This debate is going to me over the topic of rather we should reduce taxes or not.
Clearly, we should not.
Firstly, let us take a look at the national debt of the United States. If we were to reduce taxes, the debt would go up. Imagine this situation. You work for a business. The United States federal government comes up to you and buys a lot of things from you. Then, they decide not to pay you back and just add it on to their heap of debt. Not fun right? Just look at this quote from this article.

"On November 7, 2016, debt held by the public was $14.3 trillion or about 76% of the previous 12 months of GDP.[5][6][7][8] Intragovernmental holdings stood at $5.4 trillion, giving a combined total gross national debt of $19.8 trillion or about 106% of the previous 12 months of GDP.[7] $6.2 trillion or approximately 45% of the debt held by the public was owned by foreign investors, the largest of which were China and Japan at about $1.25 trillion for China and $1.15 trillion for Japan as of May 2016.[9]"
The article can be found here: https://en.wikipedia.org...

Why should be make our debt go up when we already owe 19 trillion dollars to people?

Next, let us imagine a world without any public services. Someone stabs another person. There will be no police force to arrest them. Then, there would be no hospital for the stabbed person to go. You see where this is going? Taxes are what fund public services, and without them, society would be a complete disaster.

There are many more reasons why less taxes would't work, but I don't need to go over them right now.
RonPaulConservative

Pro

The answer is very simple- cut taxes and spending. Here is my idea:

MILITARY SPENDING
Increase military spending- it's good for the economy. I'd say that we should spend 750 Billion on the military annually. This will employ millions of people and help us in the fight against ISIS, these guys are everywhere in the Middle East and africa, so we should forge a Russo-US-Israel Allience and bomb them to smitherines. This will get us out of the Great Recession just as WW2 got us out of the Great Depression.
Veteran spending stands at 157 Billion total (62+95), increase it to 200 Billion. {1}

GOVT SPENDING
It stands at 72 Billion, reduce it to just 50 Billion. {2}

INTREST ON THE DEBT
Reduce rates to just 0.25%, this way we will pay only 50 billion in intrest.

SOCIAL SECURITY
Give everyone who paid into social security a Treasury Bond equal to what they paid, paying 1% intrest annually. Once they die this bond will be nullified. According to this {3}, we have 47 Trillion in dues to Social Security recipients. This will thus cost us 470 Billion.

THE PLAN
Eliminate all other spending, here is what our Federal Budget would be:
750 Billion- Military
200 Billion- Veterans
50 Billion- Govt
50 Billion- Intrest
470 Billion- Social Security bonds intrest
750+200+50+50+470 is 1.52 Trillion, whilst our GDP stands at 18.75 Trillion. {4}
If we replace welfare with 1 Federal Negative Income Tax, we will spend about 543 Billion Annually. {5} This is because only 25% of welfare spending goes to recipients, so if we cut our current number in half but give all of this money to recipients through a negative income tax, we will spend just 543 Billion.

TOTAL FEDERAL SPENDING- rougly 2.063 Trillion. Now we establish a 11% flat tax, balanced budget.

{1}. https://www.nationalpriorities.org...
{2}. https://www.nationalpriorities.org...
{3}. http://usdebtclock.org...
{4}. http://usdebtclock.org...
{5}. https://www.google.com...

Debate Round No. 1
Parvizal

Con

Now, lets say that we did put in the rest of the budget inside your plan. This would include education, medical care, police force, etc. Just health alone will cost 985.74 billion dollars. This immediately ruins your plan. This just contributes more and more to the debt. Federal spending currently is about 3.8 billion dollars. With removing a couple of things (not suggested) we could probably get it down to three trillion. But what about the debt? We still have to pay for that. This means the only option is to raise taxes.

Sources:
http://www.bankrate.com...
https://www.nationalpriorities.org...
RonPaulConservative

Pro

Like I said, get rid of ALL OTHER FUNDING, Medical care should not be funded by the government, and education as well as police funding can be accomidated by the state governments.
Debate Round No. 2
1 comment has been posted on this debate.
Posted by Sovcody2 1 year ago
Sovcody2
Slapped
No votes have been placed for this debate.