Are The Rich Taxed Enough?

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When asked the question, “Are the rich taxed enough?” The first thought that comes to mind is, at what point is someone considered rich? Following that answer, at what point are they taxed enough? Forbes magazine considers one rich when he or she reaches one million dollars of income in a single year. In 2015 if one makes more than $413,201 they are taxed at the max of $119,996.25 plus the 39% for every cent after that. Leading back to “Is this enough?” Now consider the fact that the richest 1% make 20%. Though 11.1% of all U.S. citizens will reach and maintain life in the top percent for at least one year. As well as 70% of citizens will reach and live in the top 20% for at least one year. Knowing that most citizens will reach the top tier of the wealthiest families in the nation at some point of their lives, should one consider altering the current tax bracket system? Many new tax plans have been presented over the many years of the U.S. Some push to increase the current tax percent for the upper class in hopes to increase the governments funding along with dreaming that the poor and middle class will then have their taxes reduced. What many fail to understand is that increasing taxes alone on the rich will actually cause the lower two classes to carry more of a burden. The reason the upper class has so much wealth is they have tax teams with several tax specialists advising them how to maximise their money used for investing. With such advisement for the upper class one

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