• Lower taxes can increase what you have in your pocket book.tax forms image by Chad McDermott from Fotolia.com
  
  Two things, conventional wisdom tells us, are certain -- death and taxes. However, the amount that you pay in taxes is set not by nature, but by Congress. For fiscal conservatives looking for quick arguments as well as liberals wanting to know the other side of the story, it is important to know the pros of lowering taxes.
  
  

More Money

• The most powerful and obvious argument in favor of lowering taxes is that it leaves more money in your bank account. There is both the practical and the ideological argument in favor of putting more money into the pockets of the citizenry. The practical argument is the ability of citizens to choose what to do with their own money. You can then spend this money on anything that you like, from frivolous purchases to donating to charity. Further, you don't have to spend the money at all. You can choose to save it for a rainy day. The ideological argument says that there is a value in the abstract freedom of people to keep more of what they earn.
  
  

More Growth

• Supporters of lower taxes say lowering taxes means more economic growth. According to a study by the World Bank, a 1 percent cut in taxes results in 3.7 percent growth in the number of businesses as well as a 1.1 percent increase in overall employment. The basic argument of supply-side economics is that businesses will spend the money that they do not spend in taxation on creating new jobs and growing their existing businesses.
  
  

Smaller Government

• Fiscal conservatives, such as those at the Cato Institute champion lower taxes because they go hand in hand with smaller government. Some with this political bent believe that the federal government will spend all the money that they have. This means that taking money out of the hands of government means less spending on programs that some fiscal conservatives consider overbearing or wasteful.
  
  

Decreased Corruption

• With a higher tax burden there is social pressure to evade taxes. Because people want to avoid paying at a higher rate there will be a greater chance that people will take extra-legal means to avoid paying their fair share. Higher taxes generally also come with complicated tax laws, meaning that there are more loopholes and other ways to hide money and avoid paying taxes.