4 Responses to “Would You Rather Have Lower Taxes Or Lower Interest Rates? What Things Do You Have In Credit?”
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Would You Rather Have Lower Taxes Or Lower Interest Rates? What Things Do You Have In Credit?
at Loans : Mortgage : Finance
I would rather have lower taxes. Granted, you are correct in your assumption that this would lead to less tax revenues collected, meaning less money for the government to spend, etc. However, we’ll put these considerations to the side for the moment.
If taxes are lower, then you receive more money in each paycheck, meaning you may be able to use credit less frequently, or not at all. Additionally, you may be able to pay off credit cards and not have to use them anymore. If there is a decrease in demand for credit, then rates would come down to attract people to borrow. In this way, lowering taxes helps everyone, both by lowering taxes AND lowering interest rates.
On the other side, lowering interest rates might give some people access to credit they couldn’t recieve prior to the decrease. In a sense, they are “wealthier” as a result. However, I think it is optimal for people to have as few loans as possible. Thus, I believe lowering taxes is better than lowering interest rates.
Lower taxes. With more money in my pocket, i can decide what to do with it.
Lower taxes.
I get more money and it takes the power to control me away from the politicians.
It will be better to get lower rates as it will means better wages and mere money we get, less we are tempted to take a loan for sometime nothing. Get too many credit is not a good thing as it always end up in big troubles as more credit we get, more we will spend. If we get lower taxes, of course we will have more money in your pocket and we will also spend more but the difference is we will not pay back as we will spend our own money and not the one we have borrowed.