Surplus :: essays research papers

  Ã‚  Ã‚  Ã‚  Ã‚  Due to outstanding economic times we now face a federal budget surplus. This surplus is the first one since the mid sixties. Before now we have been in a federal deficit. Because our good situation we are face with a tough decision; what do we do with the extra money. Some people think we should put the money in government programs others think we should give it back to the people who gave the government the money. Giving the money back to the taxpayers appears to be the most logical thing to do with the surpluses.   Ã‚  Ã‚  Ã‚  Ã‚  The government has a moral obligation to give the money back to the taxpayers. The government does not have anything to spend the money on now. Just because we have the money doesn’t mean we have to spend it. We do not need to search for programs to spend our money on. Therefore we must give back the money while we still have it.   Ã‚  Ã‚  Ã‚  Ã‚  Tax rates are at an all-time peacetime high. When President Clinton took office, federal Taxes consumed 17.8 cents out of every dollar earned in the United States. Now the federal Government’s take is 20.6 cents out of every dollar. (USA Today) Budget projections indicate that over the next ten years, the federal government will have huge budget surpluses totaling about $3 trillion. If we have a surplus at a high tax rate, why can’t the government take what it needs and lower the tax rate? We need to lower taxes to a rate where the government does not take more than it needs. An example of how these types of practices are unheard of anywhere else is as followed; If I were to go to a bank and ask for a car loan of $10,000 and the car only costs $8,000 the bank would demand that I lower the loan amount to $8,000. Then I might say, â€Å"I can find other things to spend the $2,000 on†. The loan officer would laugh and say, â€Å"I’m sure you could but I can’t give you more that you need.† The people who oppose cutting taxes clearly believe that the money generated by federal taxes actually belongs to the federal government. Many of us who want the government to give the money back to the people believe that the money belongs to the people who paid the taxes and if they are paying more than we need to run the government, we should give it back.