Should tax rates be lowered to stimulate the economy?
I’m of the opinion that tax rates should be lowered to stimulate the economy.
I have two reasons to support my opinion.
First, by lowering tax rates, people will be able to purchase a lot of goods or services. According to one survey, more than 50% of citizens were against increasing the rate of consumption tax from 5% to 8% in Japan. The main factor of this is, for example, raising children costs a lot especially developed countries including Japan. However, by lowering tax rates, more people will be able to purchase daily necessities without inconvenience.
Second, some argue that tax rates shouldn’t be lowered so that the government can maintain its current public services. But this is not true. It is shown that the local governments can provide most public services at competitive prices by outsourcing them to private companies. Also, some researchers say that it’ll be possible to automate nearly half of all jobs in the near future.
In conclusion, I believe that tax rates should be lowered to stimulate the economy. (174 words)