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Edited by Telec:
2/28/2013 12:51:50 PM
17
Which is more important - GDP or unemployment?
You can gear a policy to help with GDP growth or with unemployment. Which do you choose?
(For the sake of argument, assume that the relative improvement is approximately the same, on whatever scale you choose to use)
And what if the policy which helped unemployment would damage GDP?
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4 RepliesUnemployment. The more people working means the more revenue the Government can tax. At a certain point, the amount of tax needed to operate the government stops being a percentage and starts being a real number. So, if enough people are working, that real number starts to be a lower percentage of everyone's check. So, at the end of the day, is you want lower taxes, you need more people paying them. Look at it like this, if there you are at a restaurant, and have a $100 bill, the more people chipping in to pay it means that you personally pay less. The economic boon under Clinton made the Bush era tax cuts a possibility.
