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It would reduce debt, if the citizens agree to pay it. Rebellions may start, then protests, then a formation of a militia of some sort if it gets to that point. We don't want it to turn out like Robin Hood.
No. Raising taxes results in reduction of revenue as businesses close or move out of the country.
What else can I help you with?
Do taxes pay off the national debt?
The national debt can be repaid by taxes, but only if the amount of other spending is less than the amount of taxes that are collected. If the government continues to spend more money every year than it collects in taxes, then the debt will necessarily increase.
What were Andrew Mellon's strategies for maintaining post-war American prosperity?
Andrew Mellon marketed his strategies for maintaining a postwar American prosperity. His strategy was to cut taxes believing it would ensure financial independence.
Many Americans were pleased with the final bill which controlled the deficit by raising taxes.?
FALSERaising taxes has never cause a reduction in the deficit or the debt. Lowering spending is the only possible solution and always has been.Raising taxes slows the economy and reduces overall income and thereby reduces the total tax collected.This has always been proven to be the case. No one has ever spent their way into wealth.
How did Jefferson reduce the taxes?
Thomas Jefferson reduced taxes primarily by eliminating the federal excise tax on goods, which had been a significant source of revenue. He also aimed to reduce the national debt, which allowed for lower overall tax rates. Jefferson's administration focused on cutting government spending and promoting fiscal responsibility, thereby easing the tax burden on citizens.
Why did Hamilton's want national taxes?
to pay off the national debt
Raising taxes can help control inflation because?
Inflation is too much money chasing too few goods. If the new revenue from raising taxes is used to pay down debt, raising taxes can help control inflation by reducing discretionary income.
Can the government always reduce the budget deficit by simply increasing taxes?
Large budget deficits cannot be cured by simply raising taxes. Depending on the size of the debt and the size of an economy, usually long term plans are required. This would normally consist of the reduction of government expenditures and increases in taxes. The details of such a plan depend on many variables.
Conflict which resulted in England imposing heavy taxes to reduce its debt?
fu ck
How can national debt be elimined?
By balancing the budget. This can be done by increasing government income (raising taxes) and decreasing government expenditure.
What Conflict resulted in England imposing heavy taxes to reduce its debt?
The French and Indian war
How can you stop third world debt?
by raising money and donating to gift aid so the greedy government cant steal taxes from it!!!!!!!! :)
How can I write off bad debt from a personal loan?
To write off bad debt from a personal loan, you can claim a deduction on your taxes by reporting the debt as a loss on your tax return. This can help offset your taxable income and reduce the amount of taxes you owe.
Need to reduce to amount of back taxes that I owe. I owe too much.?
Owing back taxes is not very fun. To get rid of this debt, or reduce it (which is probably more likely), talk to a local tax professional. Many cities have debt specialists that offer free services too. Check one out.
What advice would you give the president on taxes?
My advice is to reduce expenditures to equal the current revenue being collected and then to propose a temporary graduated income surtax that would be applied entirely to paying down the debt.
What's debt management group and will it help reduce personal debt?
In today's economy it is great you are looking to reduce your personal debt. I would only recommend using a debt management group if you are not good at budgeting and managing your funds.
Was the debt ceiling raised in 2011?
"The debt ceiling was in fact raised by $2.1 trillion dollars. While the plan doesn't include raising taxes, it does include cutting the federal budget deficit by $2.5 trillion over the next decade."
If property taxes are not in your name can you file bankruotcy?
Of course having Prop taxes in your name is not a requirement for filing BK. For them to be included in your BK, you would have to prove they are a debt you are responsible for...perhaps through a lease or such...in which case the debt as part of the lease would be included.
