Mexican American Recovery Essay

"They discounted a lot of positive growth effects of tax reform package," Huffman said of the recent analysis. "That's one government analysis, granted what some folks would call 'mainstream.' History proves that tax reform — tax cuts specifically — they grow the federal revenue. Why? Businesses make more money and people have larger paychecks and they are putting more into the economy."

Introduced in July 2012, H.R. 8, the Job Protection and Recession Prevention Act of 2012, sponsored by Representative Dave Camp of Michigan, was approved by the House of Representatives in August 2012 and forwarded to the Senate for consideration. Opponents of H.R. 8 maintain that the plan does not provide tax cuts for all American taxpayers while supporters on both sides of the aisle argue that these changes to the Internal Revenue Code are needed to sustain the nation's economic recovery and prevent another recession. To determine the facts in the debate over H.R. 8, the Job Protection and Recession Prevention Act of 2012, this paper provides a review of relevant governmental and media sources, followed by a summary of the research and important findings in the conclusion.

Overall, there are dozens of other tax cut extensions in this Bush Tax Cut Extension bill that were recently passed. I touched on some of the key ones that affect individuals. I am happy and grateful that it did pass as well as millions of other Americans most likely are. This helps students, parents, homeowners, working individuals, married couples, investors, and really every individual. We are all in some way, shape, or form affected by these tax

The costs to the economy and individuals are substantial. Being unemployed affects individuals and the economy in the long run. Unemployment has been significantly higher among the young people who have low level of education or living in low socioeconomic income areas. High unemployment rates affect government expenditure which would result in higher benefit payments and low tax

The economy growth slowed to half a per cent and the unemployment rate has risen to around 5.75 per cent by November 2009, which remained this level to 2011.(RBA)

The federal government and many state governments offer various tax credits, incentives and larger Section 179 deductions for increasing energy efficiency, accommodating people with disabilities, removing architectural and transportation barriers to mobility-challenged people and encouraging entrepreneurs to revitalize certain enterprise zones in some urban cities and areas where natural disasters have occurred.

The anecdotal explanation for the American economy for years has been that the number of jobs have increased but wages have not grown as rapidly. This held true again on Friday, April 1, 2016 as 215,000 jobs were added to the US economy. Because this amount exceeded the predicted 199,000 jobs, this gain was considered a healthy one.

It is argued by some people that tax cuts serve as economic stimulus, such as it may accelerate job growth, and provide short-term employment. Shuai and Christine (2013) suggests that corporate tax cuts can boost job growth (p.191). Using data from the Tax

previous year while the number of unemployed persons fell 2.6 percent from the previous year to

Though the employment rate has gone up over the years and as per an article in

The unemployment rate rose from 24.78% in 2012 to 26.09% the following year. Staring 2014, the

insurance or assistance available in the country. Hence an increase in the unemployment rate may lead to an

The tax rate for individual and corporate tax was reduced to bring more people under the tax net.

With the rise of 12,000 newly unemployed people in the recent quarter, the government has seen the end of unemployment falls. This seems to continue into the near future, with no relief yet prominent in the issues of less demand and decreased consumer spending. Further, more people are continuing to lose their jobs and this will only cause the reduction in spending power of families, decrease money in the economy and increase in reliance upon the state. (William Schomberg and Christine Murray 2013)

Despite uneven monthly jobs data, the economy’s labor utilization continued to rise. In January and February, 201,000 and 266,000 jobs were added, respectively. March jobs numbers, however, were disappointing adding only 119,000 jobs causing the unemployment rate to stay unchanged at 5.5% in February and March. Nevertheless, the unemployment rate continued to fall in the first quarter and the trend continued in April and May. Total number of jobs added in the first quarter was 552,000. April job numbers confirmed that March was a one-off dip, adding 221,000 jobs, which brought the unemployment rate down to 5.4%. Although 280,000 jobs were added in May, unemployment rate was recorded 5.5%, due to an increase in the civilian labor force by 0.25% compared to a 0.1% increase in April.