It cut taxes for fifteen million low-income families, made tax cuts available to 90 % of small businesses, and raised taxes on the wealthiest 1. 2 % of taxpayers.

* Voted YES on making the Bush tax cuts permanent.

* Voted YES on $ 99 B economic stimulus: capital gains & income tax cuts.

* Voted YES on $ 46 billion in tax cuts for small business.

Through tax cuts, the purchasing power of employees will be increased and the economy will be stimulated.

Agenda 2010 had five goals: tax cuts ; labor market deregulation, especially relaxing rules protecting workers from dismissal and setting up Hartz concept job training ; modernizing the welfare state by reducing entitlements ; decreasing bureaucratic obstacles for small businesses ; and providing new low-interest loans to local governments.

The costs of these provisions are offset by a variety of taxes, fees, and cost-saving measures, such as new Medicare taxes for those in high-income brackets, taxes on indoor tanning, cuts to the Medicare Advantage program in favor of traditional Medicare, and fees on medical devices and pharmaceutical companies ; there is also a tax penalty for those who do not obtain health insurance, unless they are exempt due to low income or other reasons.

Prior to the start of the Great Depression, Hoover's first Treasury Secretary, Andrew Mellon, had proposed and seen enacted, numerous tax cuts, which cut the top income tax rate from 73 % to 24 % ( under Presidents Warren G. Harding and Calvin Coolidge ).

One of Kemp's more trying times as a congressman came in 1982 when Reagan decided to reverse the tax cuts and promote tax increases.

Despite a platform covering the full range of political subjects, Kemp's primary campaign weapon was a fiscal policy based on tax cuts.

In January 1995, Kemp's stated reason for not entering the 1996 Republican Party presidential primaries was that his personal beliefs were out of balance with the contemporary Republican political landscape: Kemp opposed term limits, he always preferred tax cuts to anything resembling a balanced budget amendment and, unlike most Republicans, favored federal incentives to combat urban poverty.

Dole was a longstanding conservative deficit hawk who had even voted against John F. Kennedy's tax cuts, while Kemp was an outspoken supply-sider.

Dole despised Kemp's economic theories, but he felt Kemp-like tax cuts offered his best chance at electoral success.

His legacy includes the Kemp – Roth Tax Cut of the 1980s, also known as the first of two " Reagan tax cuts.

Many Republicans have endorsed this Laffer Curve view that tax cuts spur economic growth and reduce deficits.

In the early 21st century, Kemp continued to be considered along with Reagan as the politician most responsible for the implementation of supply-side tax cuts and along with Steve Forbes as the political figure most responsible for their continued place in the marketplace of political ideas.

At times, he collaborated with Gingrich and Lott on deregulation and tax cuts, collaborated with McCain and Phil Gramm on tax cuts and spending restraints, legislated with and campaigned for Joseph Lieberman, and fought poverty with James Pinkerton.

When a 1997 budget surplus was earmarked for debt repayment, Kemp opposed the plan in favor of tax cuts.

This, according to Michael, was how he was introduced to the subject of tax cuts and how that affected people.

However, the tax cuts introduced in 2008 may undermine the favorable fiscal position.

The government fiscal balance is in deficit because the government has not been able to raise sufficient tax revenues to cover expenses.

The large inflow of official assistance to FSM allows it to run a substantial trade deficit and to have a much lighter tax burden than other states in the region ( 11 % of GDP in FSM compared to 18 %- 25 % elsewhere ).

The income generated from the new 0 / 10 tax proposal will not be equal to the revenue of the original tax system and this leaves Jersey with a deficit in their budget of several million pounds.

To fill the deficit created by the changes made to Jersey's tax structure, the States of Jersey introduced GST.

The government's overall budget deficit rose sharply in 1999 and 2000 to 3. 2 % of GDP, the result of hikes in government salaries, expenditures related to the 2000 election campaign, higher foreign debt service payments, and lower tax revenues.

As for the unemployed, he was hostile to federal relief, and only reluctantly accepted a Keynesian solution that involved federal deficit spending, tax cuts and subsidies to the housing market.

Gladstone refused to borrow the money needed to rectify this deficit and instead increased the income tax by one half from sevenpence to tenpence-halfpenny in the pound ( From ~ 2. 92 % to ~ 4. 38 %).

Gladstone inherited an unpleasant financial situation, with a deficit of nearly five millions and the income tax at 5d.

Daley inherited a city with revenue-generating assets, manageable debt and pension funds so flush with cash that he was able to use some of the money to provide a one-time property tax break, but he left behind a city literally on the brink of bankruptcy, with a structural deficit that Mayor-elect Rahm Emanuel said could approach $ 1. 2 billion when unfunded pension funds are factored in.

On 11 November, Callaghan gave his first budget and announced increases in income tax, petrol tax and the introduction of a new capital gains tax, actions which most economists deemed necessary to take the heat out of the balance and sterling deficit, though international bankers disagreed.

In order to finance the budget deficit, which amounted to 100 million livres in 1745, Machault d ' Arnouville created a tax on the twentieth of all revenues which affected also the privileged classes ( Edict of Marly, 1749 ).

The GST was created to help eliminate the ever-growing deficit and to replace the hidden Manufacturer's sales tax, which Mulroney argued was hurting business.

Mulroney's supporters argue that the GST helped the subsequent government eliminate the deficit, and that the visible nature of the tax kept politicians more accountable.

However, once in office he adopted a budget designed to curb inflation by slowing economic activity, and also proposed an 18 cent per Imperial gallon tax on gasoline in order to reduce the budgetary deficit.

By this time Cain was becoming frustrated at the reluctance of his government's caucus members to approve his plans for tax rises and spending cuts to reduce the growing budget deficit.

However, these definitions can be misleading because, even with no changes in spending or tax laws at all, cyclic fluctuations of the economy cause cyclic fluctuations of tax revenues and of some types of government spending, altering the deficit situation ; these are not considered to be policy changes.

If the result of changes to the tax structure is a fiscal deficit then the ' supply-side ' policy is effectively stimulating demand through the Keynesian multiplier effect.

After the court ruling, as the 2010 legislative session drew to a close, Pawlenty vetoed a budget which would fix a $ 2. 9-billion deficit by adding a new tax bracket for six-figure incomes.

In a quip, " fiat money governments are ' spend and tax ', not ' tax and spend '," – deficit spending comes first.

By fixing the tax rate in advance of spending, upper limits are set on expenditures.

Allende adopted measures including price freezes, wage increases, and tax reforms, which had the effect of increasing consumer spending and redistributing income downward.

These terms, however, do not apply to other beneficiaries of government spending such as tax incentives and military spending.

The subject addresses such matters as tax incidence ( who really pays a particular tax ), cost-benefit analysis of government programs, effects on economic efficiency and income distribution of different kinds of spending and taxes, and fiscal politics.

Austerity measures were introduced: public spending was cut, there was a tax and VAT increase and public employees were given a 10 % wage-cut.

By restricting the sale of land leases, the Hong Kong government keeps the price of land at what some would say are artificially high prices and this allows the government to support public spending with a low tax rate.

As it allows a government to devalue their spending and displace ( or avoid ) a tax increase, governments have sometimes resorted to excessively loose monetary policy to meet their expenses.

The expanded welfare state of Finland from 1970 and 1990 increased the public sector employees and spending and the tax burden imposed on the citizens.

He initially maintained Whitlam's real level of tax and spending, but real per-person tax and spending soon began to increase.

The legislation empowered the president to sign any spending bill into law while simultaneously striking certain spending items within the bill, particularly any new spending, any amount of discretionary spending, or any new limited tax benefit.

Keynesians argue that fiscal policy, tax cuts or increased government spending, will work when monetary policy fails.

The four pillars of Reagan's economic policy were to reduce the growth of government spending, reduce income tax and capital gains tax, reduce government regulation of economy, and control money supply to reduce inflation.

Consumption tax refers to any tax on non-investment spending, and can be implemented by means of a sales tax, consumer value added tax, or by modifying an income tax to allow for unlimited deductions for investment or savings.