Watch this video on government policies regarding spending and taxing. Post your comments on what the governemnt should do in terms of taxing and spending. How do we reduce the deficit? You play president for the day.
Economicst Rapping Debate
I found this video very interesting. I honestly hardly understood much of what they were talking about, but I still was interested none the less. One problem that I have with trying to understand the role of government spending is that I am very unsure about knowing where and what the money we spend goes to. When we talk about raising the taxation to help lower the deficit I initially am all for the idea, until I think about how much money will this cost me? Then it is an easy decision to back away from taxation. I am a large proponent from cutting back on military spending while at the same time trying to figure out ways to cut spending in other areas. The thing is, I don't know other areas that the government is spending large amounts of money in to pull funding from. Social security is a place I know of that the government spends large amounts of money in, but I personally think that this is a good place to put money into. All in all though I think that a way to help reduce the deficit is to increase taxation, even if it hurts a bit, and lower spending.
ReplyDelete-Luke K.
I say go ahead and cut the money that go to sponsoring revolts in Middle East and North Africa. I think the US's got enough prescence in the world without fighting all those devastating wars. It is not only unfair to whomever they are fought against except for the terrorists who actually attacked the US, but can well stab the economy in the back. It's like the Vietnam: wanted to go to war - had to give up the Great Society. People seem to be getting tired of having stuff at home cut. Look at the budget - A LOT of money goes to the military. Just get your guys out of there, provide them with jobs and take care of the domestic stuff.
ReplyDeleteI think that if the government is going to reduce the deficit money will have to be cut from the military. In many cases programs can be streamlined in order to save money. Even the school system, which greatly needs more money, could save by cutting unnecessary and redundant programs. For example is it really necessary to have administration for each school? Why not have one administration that oversees all the schools. The airline companies realized how much money is spent on redundant items; many airlines save money by sharing airplane hangers with each other. Taxes will also continue to be necessary. If people want the government to provide programs they need to realize that they must contribute some. If programs such as schools are not funded tax payers may have temporarily benefited because they will not have to pay more taxes but in the long run the entire population will suffer because the amount of education available will decrease.
ReplyDeleteThe rap was hard to understand but very interesting when we watched it. It is interesting that they have chosen this way to debate about it. When it comes to taxing, I believe that being an American, we have to support what America does. It is not our government that is in debt. It is all of us. Especially when it comes to schools. The children are our future, whether you personally have kids or not. So I think that everyone needs to invest in our future and support our educational systems by paying taxes to give them more money.
ReplyDeleteI kinda liked the rap, but like Anna said, it was a little hard to follow. Wish I had the lyrics! I think that money should be cut from military. I strongly support the military and I believe that war is necessary at times, but this has gone on for so long. Maybe too long, and it has cost the entire nation so much money. We all suffer this from this debt. Anna makes a great point about schools. I feel like schools aren't as good as they could be. Education should be a higher priority to the government and more money should go to the schools, however that money does not exist.
ReplyDeleteThe rap was chill and was about people who support the government and people who want to make their own decisions with money. I think to save money we need to stop helping other nations that never return the favor. We come to the aide of many countries and and then lose hella money. I don't remember to many countries rushing to help the US during 9/11. Its like we are doing it for a good reputation but never get the favor returned. Money also neededs to be moved around, such as money from military into education. Taxes are alsways going to be around and people need to realize that if they want nice highways, parks, roads, sidewalks, police, fire. etc, it doesnt just pop out of thin air. We must pay for it.
ReplyDeleteThat rap was tight. Yo Yo Yo we need to save money says Joe. lol It was kind of hadrd to understand what they were talking about during the rap(Usually when I listen to a rap I assume it is about drugs and sex) LOL. I knew that it was about how some people support the government while other people just want to make their own decisions with their money. There is always going to be a national debt. Thomas Jefferson said that a national debt is unavoidable. I agree.
ReplyDeleteTo lessen the debt we could send less on our military. It would also be nice if our schools got more money.
Ted
I liked listening to the rap. For the most part I understood the combat between the two, which on was for more governmental control while the other was for more personal control over the government. I believe that the society would be better and more productive if we reduced the governmental powers over the whole system. Starting with the most abundant governmental spend, which is the military. Though I strongly support the military, I believe that there needs to be less government control over the military spending or cut the spending down all together. The money that goes into the military can be cut down, even just a little, and redirected towards the deficit. But if I was in control I would expect the people to be willing to contribute more through higher taxation on the higher incomes.
ReplyDeleteJoshua Baumgart
interesting rap. I think the biggest thing the government will need to do to deal with the deficit is raise taxes. US citizens pay low taxes, especially the upper class and super wealthy. The best thing to do would not be raise taxes a lot, it would be raise taxes some and reduce the amount of deductions that can be taken. Rich people can donate a small fraction of their wealth to a charity and pay less taxes than I do on a million dollar income. reducing deductions seems a logical starting place for increased revenue. After that, many things will need to be cut, especially military, but that process will be complex and difficult to pass considering our "war hawk" congress.
ReplyDeleteI think that if we take some money out of forigen protection that would take some money out of the 15.4 % of our expentitures for defense. I also think that we could work out some way to tax those who are wealthy and big business. I agree with anna and erin that our schools need more funding because we want our future generations to have a good education and to keep this country strong. Yet the government worrys about the old more 22.8% and education is only 3.3% of expentitures. See a problem Here?
ReplyDeletekirsten
I think it's really important that before the country goes off and spends tons of money that the expense is completely validated, necessary, and vital to the people's well being. Also I think it's important that everyone contribute what is deemed a proportionate amount because the rich have the responsibility to help the poor. If people realize we're all in this together and thus everyone needs to contribute maybe our country's financial issues will diminish.
ReplyDelete-Kiera Clark
This video reminds me of the assigment we did the other day where we had to balance our deficit with cutting certain portions of the spending. I put an emphasis on less spending on foriegn aide and also a little chunk off of defense. With how powerful our military is already a 1 to 2 % cut on the money we spend surely wouldn't damage its productivity that much. WHile the foriegn aide is one I would cut more of because we jump to other countries needs which globally is terrific but when it comes to taking care of America there are some drawbacks to it, especially since we reciave little to none aide from other countries. I wouldn't completely cut foriegn aide because it puts a good name on our country but lessening it could save money for us to worry about our own country.
ReplyDeletePeter
People need to understand that we are a part of the United States of America and so when the US is in debt, we ALL are in debt. The money that is spent is spent on us, things that we used and things that we need. We should have to pay taxes on what is being used for us. Yes, somethings are sucking in more money than necessary, like foreign aide. And somethings are being given enough money, like education. But all in all Americans should pay taxes because we are they ones that are using the money.
ReplyDeleteMost experts believe that the U.S. is not at the edge of disaster, the United States can continue to survive. But they also agree that if the long-term deficit problem can not be resolved, investment and economic growth may be affected and may lead to rising unemployment, weakening the competitiveness of the United States and led to the decline in overall quality of life Americans.
ReplyDeleteTax cuts increase 'revenue' (just like you admitted). Spending cuts and fiscal discipline cause a reduction in yearly deficits and overall debt. Regardless of how much revenue the federal government gets, if they spend more then they take in, they will have a yearly deficit and increase the nation's debt.
So the answer to reducing the National Debt is to decrease spending and pay off the debt with the increased revenue that you get from cutting taxes.
The rap was chill and the rap battle was over how big a part the goverment should play in the private market. If I was president for a day I would be mortafyed and in all honesty have no clue what to do. I guess I would start by throwing some more money towards edgucation cause that seems to be a problem from what I've seen personaly. The tecknicalitys required to do this excape me which leads me to beleive that to a certain point the goverment should play a large role in the finatial lives of individuls because they are more knolageable than most induviduals. This in no way meens the goverment should have free access to our money.
ReplyDeletezach
The rap was quite interesting, but a little hard for me to follow with my limited knowledge about government budgets and the deficit. I think these guys have the right idea, however, in making information more interesting and therefore easier fir the general public to understand. If I were to play president for a day I would definitely make some cuts in foreign aide because I think we should worry about our our nation first, then give better aide to forein countries when we can afford it.
ReplyDeleteIt's all politics... it is very difficult, for both voters and politicians alike, to decide on government spending. It ain't utopia! I personally believe in equal taxation of citizens; a successful person shouldn't be required to pay for the shortcomings of others. Nonetheless, my presidential economic decisions would focus more on re-apportioning government funds unstead of shifting taxes. The public generally feels dissatisfied with government spending, here are a few options to improve the budget.
ReplyDelete- Welfare reform
- Clean-up of unnecessary spending
- Improved education funding
- Tay
I don't understand why it is so hard for politicians to understand why our country is in such a deep debt hole. We keep spending which is ridiculous because we will never be able to make money until we understand the importance of saving people. I don't think it takes a genius to realize this, even though our politicians are graduates of very prestigious colleges.
ReplyDeleteJust stop paying for everything for the white trash losers and illegal immigrants and everything will slowly get better.