Is raising money on the affluent constitutional for anyone? Raising taxes on the affluent is not abundantly fair. Therefore if the rich work hard for their money, then being taxed for more money than everyone else.
In a recent vote, Washington voted sixty percent yes to raise taxes and about forty percent voted no. The whole United States had a fifty- three percent saying yes and forty- seven percent saying no (isidewith.com).People who said no want to increase government funding, also the people want every college to give a free education. Also, the people who said no want the translation of all the government and have student loans privately manage accounts.
Bernie Sanders, 2016 presidential candidate, wants to raise the taxes forty- five percent to fifty percent on the wealthy (on theissues.org). Therefore, Bernie is planning to raise $15.3 trillion over the next decade. What Bernie plans on doing with the money is he will pay big expansions of programs for everyone (thinkprocess.org). In addition, the higher income taxes would pay employers to finance a
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The issue should be by the states rather than the government; which is following the Tenth Amendment. Typically saying, “The powers not delegated to the United States by the Constitution, nor prohibited by it States, are reserved to the States respectively, or to the people” (Call to Freedom Textbook). According to the constitutional principle, you have popular sovereignty, which is for the people, by the people, which goes to feudalism, which is for the States. I believe that we should not tax the rich for more because what did they do to deserve taxing more. So, making more money because you work hard for money exposed to other people don’t want to work hard, is completely fair. Don’t tax the rich. For something, that isn’t their fault. Finally, the affluent have the individual right as people for the common good not to get taxes rose
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.
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
There is a debate on whether or not the top one-percent truly deserve the mass of wealth they have come to claim. Many do not realize how unbalanced our wealth distribution is in the United States. Many believe that the wealthy deserve higher tax rates or must redistribute their wealth amongst the lower classes. Many see the wealthy as a terrible, greedy class. But one person thought the wealthy class was a great, beneficial thing.
The United States should increase the tax rate to one similar in the 1950’s because it would create a surplus of money to pull The United States out of debt and possibly be able to put more money to education so The United States would be able to have a better educational system and pay the teachers properly and would increase the current GDP. Hopefully this essay was very informative and has convinced the readers that we should increase taxes because the better argument was clear it is better for the economy to increase taxes. Make a better America until it is great not great again but it doesn't hurt to learn from the past and take a few
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.
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).
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.
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
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).
If the United States are going to tax people, then they should tax everyone fairly. Corporate welfare can be as close to those, who shouldn't receive food stamps, or people like panhandlers, who pay no taxes for the money they receive. According to Citizens for Tax Justice, “American Fortune 500 corporations are avoiding up to $600 billion in U.S. federal income taxes by holding more than $2.1 trillion” of retained profits offshore, which they identify as “permanently reinvested” to stay away from a tax liability. Millionaires and Billionaires as well regularly pay less in taxes than a middle class American. Huffington Post states that millionaires and billionaires benefit from tax loopholes, deductions, deferrals and other types of accounts. This show’s corruptness and unfairness because the 1 percent continues to profit while the 99 percent pay most of all the taxes. The 99 percent of the people struggle to pay the bills while the 1 percent worries about what sports car they will buy next. In addition, when Wall Street fails, the taxpayers have to pay for their damages. For example, Millions of taxpayers lost their jobs due to the 2008-2009 Wall Street collapse, yet they are unwilling to pay additional taxes to pay for education and healthcare for the people who bailed them out. The United States should eliminate corporate welfare until they agree
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 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
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,
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