Raising Taxes By The Middle Class

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Many people aspire to be rich and live a prosperous life. However, for a majority of the U.S. population that is not the case. More than half of us are along the middle class spectrum and this creates an issue on whether or not we’d benefit from raising taxes. Everyone is concerned with fixing the income inequality and gaining more wealth, however, this can be easily resolved by focusing on mobilizing the economy as a whole by raising the tax fairness. I believe that if the focus were mainly on raising taxes, it would allow for some stress and worry to be lifted off of the middle class and those in poverty. As a result, the rich will pay more taxes, which will benefit the middle and lower class. The so called “American Dream” is slowly losing its meaning when income inequality comes into play because there is no fair game as to how we gain money. Bold plans such as raising the taxes will allow for an increase in revenue and help with employment issues. Furthermore, with the rise in inequality, we are at the tipping point and the door of opportunity for people in lower classes is closing. An incentive to want to work harder should be encouraged when wealth becomes more concentrated than income. Raising taxes is always a debate among Republicans and Democrats. Patricia Cohen’s article, “Raising Taxes on the Wealthiest Would Pay for Bold Plans,” explains why Republicans want to lower the taxes and Democrats want to make them higher. However of course this debacle is biased
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