Alyssa Battistoni makes some very good points in her article, “The Public Overwhelming Wants It: Why Is Taxing the Rich So Hard?” regarding how the wealthy have a big part in influencing the government and taxes. Her article makes valid points on how we, as citizens, under estimate the political influence of the rich and that we have a hard time understanding the magnitude of the economic inequality and the relationship it has with political power (Battistoni, 720). She states that many of the politicians themselves are in the wealthy category. This article shows the frustration Battistoni feels by the tone and wording she uses to make her examples such as when she states that we are getting caught in a negative feedback cycle as the rich
Many people think we should. For instance, the New York Times author Patricia Cohen argues in her article, “What Could Raising Taxes on the 1% Do? Surprising Amounts”, that raising taxes on the top percent of Americans would bring in much more revenue to the government and cause little to no damage on the economy (Cohen par. 18). Furthermore, she explains that if we increase the tax rate to 40% in the top 0.1% of households, which have an average income of $9.4 million, then that would give around $55 billion in extra revenue the first year alone (Cohen par. 12). This is a great amount of revenue that could pay for a wide variety of government programs such as economic stimulus packages.
In a country that is historically held to be the wealthiest in the world, it is troubling to realize that the wealth is being taken by so few within the society. With the wealthiest 1 percent earning 23 percent of the annual wealth within the economy, it is no wonder that so many within the country are seeking change. While the current president Barrack Obama is leading the way in removing wealth from the billionaires, it seems as though his efforts may not come fast enough to save the American economy. Additionally, even with the current tax system billionaires avoid large tax bills through hidden accounts and investments that result in reduced tax amounts. On this point, I must rest my question as to whether the government is doing what is absolutely necessary in order to ensure that wealth is properly distributed.
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.
I agree with distribution of wealth. If you're rich you have the money to give for taxes other than poor people Poor people don't have the money to give money to taxes they are working as hard as they can to put a meal on the table for there kids they don't have money to pay for taxes when they have to pay all the other bills like electricity and water. If you have money to buy a lamborghini you have money for takes.
Before delving into the topic at hand, a look at the current and projected tax system will help understand the predicament of taxing the upper class. According to Bardes, Schmidt, and Shelley, in the textbook American Government and Politics Today: Brief Edition, Americans pay a variety of federal, state, and local taxes, which are all assessed on most sources of income, sales and land. Bardes et al, made their agenda clear by pointing out that “the wealthy receive a much greater share of their income from these sources (capital gains, rents, royalties, interests, dividends, or profits from business), than others do (315).” But what is considered wealthy? In the article, Who gets to be “Rich”, Jordan Weissmann reported that a household income of around $113,000 lands one at the top 10% of income earners, while $394,000 makes one a
Yes, I believe that individuals making over a quarter of a million dollars a year should pay a higher rate in taxes. Currently the United States is experiencing a slow economic recovery from the previous recession and the more fortunate members of society could contribute more to strengthen the country's financial status. It is not unreasonable since the U.S. is already incredibly low by international standards. The average tax rate on American's is 27.3% which is below almost all OECD countries as well as way below the average of 36.2% (Tax Policy Center, 2010). Raising taxes on the wealthiest Americans is estimated to help 114 million households including lower tax rates, an expanded Child Tax Credit, and marriage penalty relief steps that together will prevent the typical family of four from seeing a $2,200 tax increase next year (Office of the Press Secretary, 2013).
According to Ron Paul, “one thing is clear: The Founding Fathers never intended a nation. Where citizens would pay nearly half of everything they earn to the government.” Could you risk the down fall on not only hurting others, but yourself as well. Not being able to handle the people complaints their sacrifice and the hurt of their family, but also their job pay rate and not being able sleep at night.
I don't believe that the wealthiest Americans have a "moral" obligation to pay higher taxes. These individuals have earned where they are today to be consider the wealthiest Americans. They may be more successful in the manner of making money, but they shouldn't be penalized for it. While education is extremely important to young children, the statement "It takes a refined theory to say to billionaires that it's easier to take three weeks of school away from kids in Los Angeles than it is to take 3% away from people who make hundreds of millions of dollars a year," said Brown in an interview with The Financial Times was appalling to me. I felt as though this very statement was to guilt citizens into believing if the rich don't pay higher taxes,
The obvious questions to this position are at what income levels should taxes begin to increase? Also, how much should their taxes increase? We know that high tax rates can be detrimental to an economy, largely due to the deadweight loss that the taxes impose on the markets. Combine this with the fact that the government has proven to be inefficient with the tax revenue it currently has at its disposal, and it is hard to find a suitable argument for why taxes should be increased on the wealthiest
Income inequality is a major issue throughout society in the United States of America, due to a corrupt and inconsistent economy that is displayed for individuals to suffer through. Those who are rich or poor in the United States of America should not all live equal lives. Yes, rich people benefit the most from income inequality, however they do not participate towards a fair level of taxpaying commitment, in comparison to those individuals who live low or middle class lifestyles. Anger occurs frequently from high-class individuals when the conversation of equal tax paying money becomes issued as a relevant topic and issue. The answer towards fixing income inequality should not make every high, middle or low class individual live in an equal wealthy lifestyle, it actually means the opposite view. As the three different social and wealthy classes exist, all of those individuals who live in their classified lifestyle, should have to pay taxes in the economy that appear fair and appropriate towards the type of income that they receive.
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
Raising taxes would help the people,the fact this is true because taxes go into military, medicare, social security, schools and other things. Not only would it help but its giving the government more money to waste considering they already do. Why would someone give money to someone else who would use the money for unnecessary things instead of using for to better themselves or the people around them. That is basically what the government is doing.
There are limits to everything, even to the economy. At some point during the economic stability, the government will intervene. The top one percent of the population will get richer and richer. There is nothing to stop their growth, their profit, and their income. The limits for the top one percent are set by the government. They use different methods to interfere the extreme growth. One of them is taxes. Everybody, who lives or works in the United States has to pay taxes, no matter how rich or poor an individual is. The rich, especially have to pay more because they earn more. Higher taxes for the rich sounds like a good idea except it's not. David Leonhardt, a managing editor of the New York Times mentions that, “When income or wealth is
While should the government increases tax rate on everyone as a way to equalize incomes and wealth? It would make it easier for many people and make it fair for the poor and middle class citizens. Government officials that are elected are there to take care of policies and programs. Because when Gross Domestic Product( GPD) taxes increase spending and receipts rise and the government and the budget from surplus to a increase, when Gross Domestic Product taxes (GPD) reduce spending and receipts decline and the move of government budget from surplus toward a deficit. Therefore, elected