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Maxie Brinkmann, Vanessa Henning, Eva Estrada, and Hannah Amante

Maxie Brinkmann, Vanessa Henning, Eva Estrada, and Hannah Amante. Retain G.W. Bush tax cuts for individuals earning over $ 250,000 per year is in the interest of a Republic. 1. Argument: Increased Inequality. Con - Economics. Rise in inequality during the last decades

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Maxie Brinkmann, Vanessa Henning, Eva Estrada, and Hannah Amante

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  1. Maxie Brinkmann, Vanessa Henning, Eva Estrada, and Hannah Amante Retain G.W. Bush taxcutsforindividualsearningover $ 250,000 per yearis in theinterestof a Republic

  2. 1. Argument: Increased Inequality Con - Economics • Rise in inequality during the last decades • Poverty is also on the increase  The economy is only benefiting the wealthy  Middle class will not benefit enough from the tax cut & the wealthy will reap unfairly high benefits 2

  3. 1. Argument: Increased Inequality Con - Economics 3

  4. % of income (Y) % of households (X) Con - Economics The Lorenz Curve, L of an income distribution shows for the bottom 100h/H percent of households, what percentage of the total income they have. 1. Argument: Increased Inequality

  5. Con - Economics 2. Argument: Increased Unemployment l = Labor w = Wage Tax Cuts TaxHike

  6. Con - Economics • Economic growth do not generate jobs or prevent rising unemployment • Bush’s tax plan = permanent change in tax structure • No economic growth in the short-term • Tax plan will reduce financial resources • Result: tax cuts yield inequalities in after-tax incomes 3. Argument: Economic Growth is not sufficient

  7. Con - Politics • Huge burden on working / middle class • Majority of households pay more now and in future • Wealthiest 10% of gains most • Most of population will not benefit 1. Burden on least fortunate

  8. Con - Politics • National debt has grown, rising deficit • Historic decline in fed tax revenue • low gov spending or raise taxes elsewhere • Government will borrow more funds • This will increase country‘s debt 2. Rising Debt

  9. Con - Politics • The cuts did not help economy • Failed to create jobs • Gains to 10%, they invest 3. Economy Suffers

  10. Con - Politics • Increase of inequality of wealth • Less programs, promotion for growth • Increased political polarization 4. Inequality and Polarization

  11. Between 2001 and 2010, the Bush tax cuts added $2.6 trillion to the public debt, 50 percent of the total debt accrued. Over the past 10 years, the country has spent more than $400 billion just servicing the debt created by the cuts. Median weekly earnings fell more than 2 percent between 2001 and 2007. Social programs such as Head Start have been cut back significantly. Flaws in Opposing Argument: Where we are today

  12. Flaws in Opposing Argument (More Statistics)

  13. Flaws in Opposing Argument (More Statistics)

  14. Flaws in Opposing Argument (More Statistics)

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