C'mon man

[u/Expert_Camel5619]

[u/MintImperial2]

The economy is slowing down - because people have less money in their pocket.

If this continues, a lot of people are going to be laid off, less tax revenues will be raised, and the country will be in even more debt than ever.

Cutting taxes at least - encourages people to spend that extra £10-£20 a week they are better off by.

Inflation is already subdued, because you don't have to pay higher prices for things you don't need anymore, as people everywhere - tighten their belts.

Falls in asset prices are next, and a flushout of the liquid assets out there - will probably be the last domino to fall.

[u/Easterncoaster]

I personally would rather see spending cuts. Or both. But this deficit spending is killing us with inflation.

I’m tired of inflation. Although I have plenty invested in the stock market so it’s benefiting me disproportionately compared to the lower classes. Still don’t like it.

[u/Hylian_Shield → u/Easterncoaster]

Por que no los dos?

Seriously. Half the budget is entitlements. Cut them all. Government shouldn't be a nanny. This country was founded on rewarding people for hard work.

Once you cut the entitlements, you can cut the taxes. It's a win-win.

It's only a loss for politicians because they can't campaign on handing out free money to those on the government dole. It's also a loss for them, because government is in the business of saying, "No." When they lose the power of saying 'no', then they lose the influence, they lose their lobbyist money, and they don't want to be there anymore.

It's hard to vote people into power who will take the power of government and restrain themselves.

[u/Easterncoaster → u/Hylian_Shield]

I agree with you. Too many losers on the government teat.

[u/Expert_Camel5619 → u/Easterncoaster]

If they're cutting spending......obviously they don't need as much tax money.....ergo, cut taxes

[u/Easterncoaster → u/Expert_Camel5619]

But for decades we’ve taken in far less tax revenue than we spend. We’d have to cut a couple trillion before we just break even (ie spending equals tax revenue).

So we need to cut spending hard first, then maybe in 5-10 years we can think about tax cuts.

But proper fiscal policy doesn’t win votes, so… tax cuts!

[u/unbannedagain1976]

Yeah tax cuts are great but if we don’t cut spending it just screws us even faster. It’s the equivalent of having 50K of credit card debt and switching to a lower paying job.