9 Things The Rich Should Not Be Taxed Summary

To reduce our national debt, which is 3.8 Trillion dollars in 2012 according to (Doc B), We should stop handing out money and start loaning out money, cut some money from all of the Big five programs and stop spending the money America doesn't have.

The main concepts of the article are describing the corporate welfare system and how it is responsible for growing economic imbalances between the poor and rich populations. The article elaborated on how we cannot ignore the issue anymore because of the substantial loss that we are facing by letting the gap grow (Huff, 1993). The article also goes into the IRS and how there are tax exemptions and deductions that people qualify for and what is allowed.

In the United States, the top one percent received about 20 percent of the overall income for 2016. This creates an uneven distribution of income causing Americans to argue about whether or not the wealthy should pay more in federal income taxes. One side of the argument is that the wealthy make a huge portion of the nation’s income; therefore, they should have higher tax rates. The other side argues that wealthy Americans already pay their fair share of taxes by paying nearly 40 percent and should not be forced to pay more. These arguments both use compelling evidence to make their claims; however, a solution could be reached by increasing the tax rate of the top one percent by only 10 to 20 percent.

The arguments regarding federal progressive income tax has been represented to us through the United States Supreme Court, on the floors of congress, and in media. The revenue from taxes reached the objective of financing wars from the Civil War through World War II. At the same time deteriorating the economy with fewer dollars that could be used on imports, exports, and services (Henchman). Today, the United States deficit is $18,800,241,350,538.12 this is a grand total of 58,405.32 owed by every man, woman, and child (Brown). The legal illusion is presenting the question, is income tax legal? There are Americans today who believe income tax is not legal and stand by their beliefs in a movement that has cost many individuals considerably. I am interviewing such a person, his name is Bobby Ray and the history he presented to me was interesting, and has left me with more questions than answers.

Many United States' citizens are unaware of the country's current financial state. Many assume that one of the world's wealthiest countries could never be in debt. This is untrue however, and, in fact, the country with the greatest income per capita is in major debt. This study will examine possible solutions to reducing the United States' national budget deficit.

The American government has struggled with the issue of taxes and the budget for over a hundred years. Class conflict, adversarial political parties, and convoluted economic philosophies have resulted in a never-ending debate over taxation. The New York Times newspaper article, “Senate Panel Vote Backs Budget Plan”, from June 1993, discusses the current feelings of the time in regards to the budget and taxation. Moreover, the article mentions factors such as democrat-republican debate, trickle down economics, and high verse low taxes for the middle class. The issues discussed in this 1993 article differ only slightly from the taxation conversation of today. However, now in 2011, we face a budget crisis that threatens the American economy

According to a speech given by Melancton Smith, because "The wealthy are in the habit of expensive living, they will tax the public highly and spend their money. They find no difficulty in paying their taxes, but people of the middling class do feel these difficulties. Therefore, representatives from the middling class, from their frugal habits, will be careful how they increase taxes.""Being in the habit of expensive living, they will tax the public highly and spend their money. They find no difficulty in paying their taxes, but people of the middling class do feel these difficulties. Therefore, representatives from the middling class, from their frugal habits, will be careful how they increase taxes."This means that higher class will tax the people highly, because they do not have trouble paying taxes. On the other hand, the middle class people would know the reasonable amount to tax because it is not as easy for them to pay. Also, Amos Singletary stated in his speech that, "These lawyers, and men of learning, and moneyed men, that talk so finely and gloss over matters so smoothly, to make us poor illiterate people swallow down the pill." "These lawyers, and men of learning, and moneyed men, that talk so finely and gloss over matters so smoothly, to make us poor illiterate people swallow down the pill,"This means The wealthy men talk so finely, they will get out of

Rhetorical Precis In his essay “Stop Coddling the Super-Rich” (2011), Warren Buffett argues that “It’s time for our government to get serious about shared sacrifice” (qtd. in Weinstein 229). Buffett supports his assertion by arguing that rich people have low tax rates, statistics about his low tax rates over the previous years, and employees and middle class have high tax rates. His purpose is to make know about the government periodic low reduction of tax rates to the rich people in order that the government will make the wealthy Americans to have more contribution, high tax rates, and shared the same sacrifice like the American people.

Furthermore, Buffett provides his personal example that last year he paid the least percentages of taxes in his office. Buffett uses several precise data to show the difference. In the third paragraph, Buffett states, “But what I paid was only 17.4 percent of my taxable income—and that’s actually a lower percentage than was paid by any of the other 20 people inner office. Their tax burdens ranged from 33 percent to 41 percent and averaged 36 percent” (275). The exact numbers like 17.4%, 36% provide strong demonstration. From these two number we could easily find that Buffett, as one of the richest person in the world actually paid half percentage of taxes compare with his co-workers, who are all in middle class. Additionally, Buffett states, “The mega-rich pay income taxes at a rate of 15 percent on most of their earnings but pay practically

It is with out a doubt that in our country the United States of America the lower and middle class have the common perception that the government and the “super rich” have some kind of unknown agreement to maintain extremely lower tax rates on the “super rich”. What do the “super rich” do with all the saved money coming from the tax cut is another unknown, perhaps some luxurious new home, car, or maybe put it to work and continue getting richer. While all this may be true to some degree, one of the “super rich” elite members has stepped fourth not only once but a few time but none compare to his current attempt to make change.

Another reason that the wealthy should pay more taxes is because they owe it to society to do so. Every person wouldn’t be where they are today without the people who helped raise them and the society they were raised in. In “The Great Gatsby”, Nick Carraway is disgusted with Tom and Daisy, “Tom and Daisy—they smashed up things and creatures and then retreated back into their money or their vast carelessness, or whatever it was that kept them together, and let other people clean up the mess they had made” (Fitzgerald 179). Nick is repelled by how Tom and Daisy, with all of their money, would do nothing to help the society or other people. Successful people are largely successful due to the society and conditions that they were raised in. Without the better conditions that they were luckily born into, it is logical to question just how successful someone in the top one or ten percent could have been. In a recent commencement speech last summer at Princeton, author Michael Lewis stated “Recognize that if you have had success, you also have had luck—and with luck comes obligation. You owe a debt, and not just to your Gods. You owe a debt to the unlucky”. In a

This article discussing how the new tax cut plan that has been put in place under Donald Trump’s presidency will help the middle class. While this sounds like great news, it does not mean it will benefit everyone equally. The tax plan will most likely benefit the upper class with more tax cuts than the middle class and lower corporate taxes will benefit investors more than workers. Nonetheless, the middle class will benefit from these tax cuts because it will result in higher pay for many Americans, leading them to increase their spending. This means that a “typical” family will also find that they won’t have to pay as much in taxes this year. These tax cuts could also result in higher before-tax incomes for families. This might come from competition

The American people are in the presence of the highest tax burden in American history; taxes represent a larger share of the U.S. economy than ever before (Armey 2). After World War II, the average family sent only about three percent of its income to Washington. The same family today gives 24 percent of its income to the federal tax collector (Mitchell 1, 9). Once state and local taxes are added to the federal take, taxes make up the biggest slice of the average family's budget. As Daniel Mitchell of the Heritage Foundation shows in Figure 1, the typical American family now pays more of its budget in taxes than it spends on food, clothing, transportation and shelter combined (Mitchell 1, 10).

One of the obvious reasons to raise the taxes of the rich would be because they simply earn more. One example is if two people started the year off with fifty thousand but then let us say one had a rich family member that died and they had received millions through a will, then say they received a gift of one billion by the end of the year they pay the same taxes even though one of they are now a billionaire (Cohen). The reason is that the government does not tax on gifts or wills so then they would not have to pay more taxes if they received a gift that had consisted of a large sum of cash (Cohen). Now there is a large chunk of change out of circulation and now the middle/lower