Even today, I believe President Coolidge would follow his “economy in government” mentality to try and balance the budget, lower tax rates, and pay down the national debt. Coolidge believed that cutting government spending and lowering tax rates were equally important to a morally successful economy. Coolidge instructed his administration to work towards an efficient government by applying his principles for a constructive economy. He believed there needed to be a reduction in taxation for the American people. He emphasized reducing public expenditures was only the avenue as tax reduction was the ultimate goal.
President Coolidge explained over taxing as a restriction put on the freedom of our people. He was aware that reducing spending and taxes was a huge hill to climb, but referred to it as “essential and crucial” to reach the goal of a balanced budget. The focus was to return the country to the people by allowing Americans to keep more of the money that they earned and pay less to the government. That would mean Americans could enjoy more of the comforts of life, have the chance to achieve higher education, and live in a freer world for all people. This would give all people the increased sense of living as they see fit.
Coolidge also believed that overspending by the federal government was irresponsible and unconstitutional. Coolidge believed that cutting government spending worked hand-in-hand with reduced tax rates. He believed that in order to reduce tax rates, the government had to cut their spending.
Even though Coolidge was not in office before the time of welfare, I do not believe he would be in favor of entitlement programs such as Social Security and Medicaid. His goals were to keep the government streamlined and not become a business. He believed that it was double taxation when the federal government was giving funds to the States to help take care of their people. He believed the federal government needed to remain constitutional and overspending did not fall into that realm.
Coolidge explained that to create economic growth, it was necessary to cut government spending and reduce tax rates which would also restore a constitutional government. Coolidge continued to argue that balancing the budget and lower tax rates would cause business expansion. He was right. He reduced the federal budget by $2 billion during his presidency and the result of that was business expansion because Americans had more money to spend on themselves and their families.
The unemployment rate is always in the news today. Coolidge completed his second presidential term with the lowest unemployment rate of any president in the last century. His budget and tax policies caused economic growth thus creating more jobs, so less people were without work. We need this today.
I also believe that if president today, Coolidge would try to figure out how to make the United States self-sufficient instead of buying products from other countries. Higher tariffs on products coming in from other countries could help lower the federal budget.
Today, I would encourage Coolidge to address the problems the farmers face during hard times such as drought and fire. The farmers grow and make the food that feeds our people and without the farmers there is no food thus our people will starve.
Coolidge believed that the American people needed to be responsible for their own country. It is important that Americans realize that the only way to resolve the current fiscal crisis is to restore constitutional government. As a nation, we need to live and learn from the lessons that worked while President Calvin Coolidge was in office.
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