hamilton and national debt
1) Hamilton's "plan was to shape the fiscal policies. . . . to favor wealthier groups." Why was this his intention? What were the liabilities in this approach? Hamilton wanted the fiscal policies to favor the higher classes because he felt these wealthy groups would lend the government money and would gain support from the important higher social groups. He believed that it would help give the federal form of government respect and confidence in society. The liabilities in this approach would be that the wealthier groups may not want to lend Congress money, even after having the wealthier groups being favored in the tax policies. Also, the non-wealthy groups will be unhappy with the fact that despite the wealthier classes excess of money, the poorer classes still weren't favored in the tax policies. The lower classes may not have confidence in the government. 5) Was Hamilton wise in assuming the state debts? Explain your reasoning. Hamilton was wise in assuming the state debts because there were more upsides to the motion than there were downsides. Even though Congress had to pay a lot of money for the national debt, just the fact that society will have gained trust in the government was enough. They will als
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Approximate Word count = 835
Approximate Pages = 3 (250 words per page double spaced)
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