Federal Tax Reduction Plan

Definition

This is a proposal or strategy aimed at lowering federal taxes, often with the goal of stimulating economic growth.

Analogy

Think of it like a diet plan designed to reduce your calorie intake with hopes that it will lead to weight loss and improved health.

Related terms

Fiscal Policy: Government policy that attempts to manage the economy by controlling taxing and spending. It's like your overall health management plan which includes not just diet but also exercise and sleep patterns.

Economic Stimulus: Government strategy intended to encourage private sector economic activity through lowered taxes, increased government spending or both. It’s like adding workout routines into your diet plan for better results.

Tax Code Reform: Changes made in order to simplify tax system or make it more efficient/equitable. This is akin to tweaking your diet plan based on what works best for you - maybe you need more protein, less carbs etc.