Please provide some suggestions and notes concerning how the government has overstepped biblical principles in some form of economic policy. Some options might include: A specific piece of legislation relating to business regulation or taxation;
The "party platform" of either the Republican Party or the Democratic Party (or both); The role of the Federal Reserve; or The budget process. I need at least 2 references for this brief two page assignment. Thanks!
The government has overstepped biblical principles in its economic policy of providing economic stimulus. One law is The Economic Stimulus Act of 2008 which was an act of Congress providing for several kinds of economic stimuli intended to boost the U.S. economy in 2008. Both the Democrats and Republicans approved of this stimulus. The law gives tax rebases, tax incentives to stimulate business, and an increase in the limits imposed on the mortgages eligible for purchase by government sponsored enterprises. The cost was estimated in 2008 as $152 billion. Another law was the Reinvestment Act of 2009 known as the Stimulus of The Recovery Act. This act was signed by President Obama. This package was estimated to be $831 billion. This act included direct spending in infrastructure, education, health, and energy, federal tax incentives, and increasing unemployment ...
This solution provides a step-by-step explanation of an economic policy that has overstepped biblical principles. All references used are also included.