Tax Cut

in #tax2 years ago

The problem with just a tax cut is that it comes with no following changes to active subsidies, deductions, as well as even changes to qualification and regulation of professions (the education system has to change, especially secondary and tertiary), as well as what is counted as a degree, how it is achieved, etc.
Or the changes that it does come with just exacerbate the issue
I am not trying to say that the tax cuts current politicians enact are rationalised in this way or are intended this way (not that none of them are not, either), just that a lot of the time they fail, or are maliciously inclined, because they have no other changes alongside them
Even something as simple as fractional reserve banking is an enormous part of the influences on inflation, and the efficacy of tax cuts, so when someone just cuts taxes, it is not necessarily what I was suggesting, nor will it result in that, apologies
I would say that if you want tax cuts to function in any beneficial way, or as functionally as they could, you would have to rework an enormous amounts of subsidies, mostly eliminating them, or gradually phasing them out, as well as massively rework tax deductions and our categorisation of income, mostly recategorising and removing them, and having an education system more able to produce different kinds of specialists, trades and so on, more befitting of a far more self-sufficient nation would be required due to the collateral effects, such as far higher costs of shipping and production from other countries, and the lack of profitability in a highly specialised economy, rather than a diverse one, etc.
But I meant that no matter what your policies are, or your intentions, mistaken or not, you will almost always get slandered, and with the widest, and most damning brush you generally can be, it is what it is.

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