Free Custom «Contributions of Entitlements to Debts» Essay Paper

Entitlements are benefits instituted by any government to respond to various needs of individuals within the country regardless of the class in which a specific individual suit after a suitable appraisal and categorization. They can take either a formal or informal shape of policy or a controlled custom and can be constituted in the governing laws of a country. They make a crucial contribution to the citizens’ living guidelines by providing boundaries within which a citizen is free and entitled to live and operate besides carrying out daily activities. They also provide for any kind of support a citizen can get or may look forward to with an extensive elaboration of any possible barriers. Entitlements help in benefiting citizens in many ways among them being re-direction to protect rights of different marginalized groups of individuals including those with disabilities together with their families. They ensure that basic needs are met and services to make life comfortable within their country are met. Citizens who are not able to meet their day-to-day basic needs are supported to make life more comfortable by the government through entitlements.

 

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High debts are realized through entitlements like social security, which begins with good intentions but later expands to an extent of being paid through borrowed funds together with a progressive taxation by the governments. With free money to the citizens, entitlements change the funding priorities leading to funding or debt settlement out of borrowed money and hence high debts resulting. Since these entitlements depends on the country’s economic standards, overreliance leads to high debts. Government expenditures in relation to debt-to-GDP ratios are found to be much higher beyond the estimations as a result of entitlement. Some house owner gets tax exemptions and other exemptions like fuel, reduced economic revenues which later contribute to high debts. Entitlements, which make a high growing budget, can be adjusted through regulating the revenues and any other substantial expenditure by adjusting taxation and eradicating distortion exclusions.

Politicians and politics have an influence in privatizing the social security thus reading to an increase in federal debt and other subsequent increase in annual budget. This influence would make a reduction in benefits paid out of the social security due to reduction in payment benefits that may not be available for such. As a remedy to these problems, ways are propagated to ensure there is a stop in raiding the social security. Money not meant for the social security is being taken a way to deter it from being spent in additional things. Too much expectation is placed upon the government leading to lower achievements of such demands by the government with substandard service delivery. For the government to achieve its goals and improve the comfort of its citizens, revenues collected out of taxation should be of maximum in order to meet all the entitlements.

There is need for self-reliance of the citizens in order to reduce such government entitlements, which have lead to high debts. Citizens should develop proper and well-established channel for meeting taxation demands especially for those who are capable of meeting those demands. There is reliance on the government to relief on property taxation more especially on those who own homes and requests for reduction of revenue collection out of other properties owned by individuals. Citizens have alternatives of demanding for government grants among others. There also negotiation of rescheduling of debt payments as defaulting loans made through international agencies. Finally, there is reliance on the government to curb social spending, tightening of measures for managing inflation and redirecting resources away from economical inefficient projects that may be on the public.