Explain Why The Rich Should Pay Higher Taxes

Although many Americans believe the top one percent should have higher tax rates there are also many people who believe that the wealthy pay more than their fair share of taxes.

Wealth is often harder to tax however it is often caused by income so the tax system previously described may be used to reduce wealth and thus stopping inequality. This system can also be found in wealth though, with inheritance tax being used progressively. For example any money above 325,000 is taxed at 40%. This then creates a source of revenue for the government but also stops people inheriting huge sums of money, stopping inequality. However this system has its flaws as the tax has to be paid first, it could also be argued as unfair as someone who works for their money is entitled to leave it to who they want, especially as it was already taxed when it was earned. This system has also caused many pensioners to move abroad where what they leave is taxed less. The money inherited is also often used by entrepreneurs to fund businesses so the system may also reduce the possibility for future in income tax. This systems also sonly raises

Going against the ideas of many Americans, the wealthy are already taxed enough. Lower class Americans pay little to no taxes, are blaming the American wealth imbalance on the rich not being taxed enough. Taxing the wealthy more than the amount already will not benefit charity, create economic stability, or benefit lower class households.

The rich should not be taxed more. Increasing tax rates for the upper class will not solve the present inequality problem. The wealthy americans should be expected the same amount of taxes as the poor for equality. Those who earn more shouldn't help the less fortunate because they worked harder for the money they earn.

Why shouldn’t the wealthiest of Americans pay a higher percentage of their income for taxes? Certainly, things would get better if the wealthy paid more taxes. This philosophy is why welfare continues to exist today. People worry more about what is right for the other person without looking at themselves and taking responsibility. It is overrun with individuals who prefer to be on welfare than to work hard and contribute to society. This doesn’t mean welfare is not needed, but that it should not be a career. It offers no permanent solution, but only prevents a real solution from being realized. So why should the wealthy pay a higher percentage of taxes just because they can afford it? They work hard, so shouldn’t they be allowed to keep what they earn? This is not an example of scrooge-like behavior, but that hard work should have its rewards. The way to a better life should start with hard work and the desire for independence from government support. This would help people regain personal pride and become productive members of society, rather than a drain on its resources. It is not a crime for the wealthiest to earn high incomes. Shouldn’t hard work pay off? Why be penalized by paying a higher percentage of your income when you worked hard to make that income? Simpler solutions are required.

Amity Shlaes talks about how presidents such as Nixon, and Bush removed millions of Americans from the tax bracket completely and that those same exact people don’t want a proportional tax rate and want to tax the rich because “they can afford it”. That just seems unfair and unjust. The first video was very opinionated saying that the rich now make more money than before, of course they have the money now due to war times & depressions being over however, the less money they have the less likely they’re to make more investments into other things such as creating more offices, and hiring more people to work for their company

With rapidly rising income inequality in the United States, would the redistribution of taxes benefit the US economy? It is one of the greatest political questions that deserves to be debated since the US economy suffers with a huge deficit that topped $20 trillion this year and is expected to grow by another 10 trillion over the next decade. In Julie Borowski’s blog post,”Why Shouldn’t the Rich Pay More in Taxes,” she reveals the value of equal opportunity as she proves her argument of why the rich should not bare a larger burden on the national debt crisis through her use of ethos, logos, cynical diction and rhetorical questions. Before we analyze her views, it is important to note that our federal income taxes pay for social security

The “increasing concentration of wealth feeds on itself, becoming even more difficult to remedy” (Hiltzik). If the rich do not see the problem as to why they should pay more tax than the poor, then that is a huge problem that will need to be fixed before this stretches out to something even more serious than it already is. The rich and the poor need to work together and compromise on one thing, which is the amount of tax they should both

In today’s society, people have accepted the fact that taxes are too high and there is an income inequality problem that needs to be addressed.

To sum up, we should not tax high-income Americans more because they already share a fair amount of their incomes. They pay most of the income taxes and they must be powered in order to encourage them to invest more in their businesses, make innovations, and hire new employees. Affluent people are the most important category in the economy and we should not make them the victim of our lack. However, rich people are demanding to support charities which provide services for the community and poor

As a lot of the American citizens know, Uncle Sam has a way of hitting a lot of bank accounts, some quite more than others. In America’s economic system there are three classes. The classes include the rich (upper-class), middle, and poor. Although the Rich is highest paid class, middle class unfortunately pays the most taxes. The rich should have to pay higher taxes because they make more money and it also stimulates our economy.

The rich should not be taxed more because doing so would take money away from charities. Rich citizens contribute billions of dollars to charities that go towards helping with emergency relief, and providing medical and financial help to those who need it. If taxes were increased for upper-class members, those charities would lose a large amount of money. Take for example, Dwayne Johnson, he could make about $100 million of income with a thirty-five percent tax rate. After taxes, he would be left with $65 million and could give thirty-five percent of that to charity. If his tax rate were increased by just two percent, he would give $10 million less dollars towards charity. That may not seem like much, but

Therefore, rich people should not have to pay more taxes. Because they pay more income tax, They should not be punished for doing well financially, When tax rates increase rich people flee. So rich people should not have to pay more

In my opinion, I believe that government should tax the rich and use those money to help the poor. One reason is because the rich people is getting more from the government than people from the poor people. One such things is “Taxes on investment dividends and capital gains currently max out at about 24 percent when you add in a Medicare surtax that applies to some investment income. But the top income tax rate is 39.6 percent. So investment income is taxed at a much lower rate than regular income.”(Badger, 1). Therefore if the rich are getting more from the government than the poor, shouldn’t the rich be tax more, since they have more money

What do you think would happen if the rich paid more taxes? Would there be a better economy or would it be worst, maybe even stay the same. Increasing the taxes would help out our economy in a few ways. one way that it would help out our economy is that not only would there be less of a concentration of profit at the top of our social ladder there would be more revenue for the funding of civil union jobs. Also not to mention causing the bigger corporations to have to pay more so they would be unable to escape with the majority of the illegal activity they do today. Lastly if the government were to crack down on offshoring it would help with collecting taxes and the money would return to the people and back into circulation for our economy. Here are some reasons why the rich should pay higher taxes.