There is an ongoing debate about whether governments should invest in public services or cut taxes for the benefit of society. In that regard, this essay will discuss both facets and provide my opinion.
Financial endorsements of public services can be a wise and strategic move for the government because it will improve the quality of life. For instance, the majority of well-developed countries have heavily invested in their public services in order to increase public satisfaction. As a result, increased public satisfaction has led to a major economic surge as people became more conscientious and encouraged to drive the economic progress. This will improve the mutual trust between the government and the public. Nevertheless, heavily investing in public services might drain financial resources of a country. Apart from the public sector, the government is also expected to regulate the military and other sectors of their country, which require fundings and investments. Therefore, there might be potential for underfunding of other essential sectors of the country.
Governments can also benefit from trimming taxes. Locals will be relieved from taxes and might be able to spend their earnings on themselves, which, in turn, can improve their lives. Moreover, reducing taxes will satisfy the public and increase their income. Nonetheless, taxes comprise a significant portion of the economy as they are eventually distributed to other sectors of the economy, including the public sector and military services which serve for the safety and welfare of society. Therefore, cutting taxes might hinder the economic growth or might lead to the underfunding of several essential aspects of a country.
To conclude, both sides express valid points. Investments in public services and reducing taxes can be advantageous for the economy. However, they also have potential drawbacks. From my perspective, investing in public services is a better option, since it will encourage people to work for the economy of their country. Reducing taxes, on the other hand, can be disastrous for the economy.