Business taxes are killing small businesses. Many Entrepreneurs have had to close their doors because they can’t afford business taxes. Small businesses are a vital part of the countries’ economy. They supply many people with jobs, decreasing the unemployment rate. Small businesses also spend money and supply money to its employees which also helps to keep the economy from crashing.
Just yesterday, the stock market fell over 600 points, and the day before, it dropped over 500 points! People wonder why the economy is so bad. One of major reasons is because there are too many taxes that small businesses have to pay but cannot afford and cause them to go out of business.
There are obviously other reasons like the fact that the U.S. has to import oil to make us look like a greener country. Millions of dollars could be saved if oil companies could drill for oil in the United States. Also, it is apparent that the United States is spending way too much money and not earning enough to replenish it. I read somewhere that the debt of the United States could buy every person on earth 19 copies of every book in the twilight series. It is so hard to even understand how much money 14 trillion dollars is.
There are many ways that the economy could be improved. Removing business taxes would make it easier for small businesses to grow. As bad as this sounds, if the United States stopped giving relief money to other countries such as Africa and Haiti, it would also conserve some money. Legalizing drugs (which also sounds bad) is another option that could improve the United States’ debt. The United States could create very heavy taxes on illicit drugs if they were made legal. It would also cause the black market for drugs to crumble resulting in many less drug related deaths and criminals. I think the government shouldn’t control what people put in their bodies anyways. It is said that cigarettes are more toxic than marijuana. Country alliances such as NAFTA also cost the United States a lot of money. George Washington could see that having allies could cause a major debt problem hundreds of years ago. In fact, I think if any of the founding fathers could see what the United States has become in terms of economy, they would be appalled.
In my opinion, fixing the economy is not as hard as the government is making it out to be. Maybe the problem lies within the government themselves. The government shut down earlier this summer was a result of the republicans and democrats bickering with each other. Political parties were another thing George Washington warned the United States to stay away from. It is becoming more and more obvious why. Maybe if political parties focused on the big picture more and stopped arguing, the economy would be better. I doubt that will ever happen though, and I am sorry to say that the economy is going to get worse before it gets better.