Why The Rich Should Pay Higher Taxes

1730 WordsMar 1, 20167 Pages
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. 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
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