Like if you have loans, credit cards, morgages, car loan payments, business loan payments, etc. Things in credit, more than likely, the more you owe in credit, the better lower interest rates are for you. If you owe nothing in credit and interest really has no effect on you. All you would care about is lower taxes. Because less taxes would be taked out of your pay check and you’d get more money. Not sure what effect this has on tax returns but that’s another story. Right? What would happen if people with different ammounts of credit or no credit, would each have different interest rates and tax rates? What would that do? Would that make it unfair to anyone? Let me know your opinion.
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Tags: Business Loan, Car Loan Payments, Credit, Credit Cards, Credit Loans, Interest, Interest Rates, Lower, Lower Taxes, Money, Morgages, People, Rates, Rather, Tax Rates, Tax Returns, Taxes, Things, Would
December 5th, 2009 at 3:30 am
Lower taxes. With more money in my pocket, i can decide what to do with it.
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December 5th, 2009 at 3:41 am
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.
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December 5th, 2009 at 4:06 am
Lower taxes.
I get more money and it takes the power to control me away from the politicians.
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