Watch the video above. Do you agree? Research the potential impact of recent fiscal policies on the US debt and write an initial post of 150 words or more on the topic.
You must comment on one of your classmates’ posts.
Fiscal policies in the United States have a significant impact on American’s and how we are dealing with not only the debt of the country but ourselves as individuals too. Over the past 15 years we have seen some major policies go into action due to harsh and failing economic times such as the The Great Financial Crisis in 2008 and more recently the COVID-19 Pandemic. In addition to fiscal disasters such as these, there are also instances of presidents implementing new polices that are politically motivated like cutting corporate taxes by the former president Trump.
This tax cut only benefited the ultra wealthy and further widened the gap between the 1% and the rest of nation. Some fiscal policies are much better than others such as the COVID-19 Relief package which helped American’s pay their bills and put food on the table for their families since tens of millions lost their jobs due to the pandemic. There are also talks of new policies being implemented by the current president Biden which would raise taxes for people who make over a million dollars a year, there are even a few hundred current millionaires who are in favor for this policy. In theory, this higher taxation would not only benefit people of the lower and working classes but it would also benefit the super rich because a thriving and growing economy is great for everyone.
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