Argumentative Essay: Should Rich Pay Higher Taxes?

When the government spends, there is more money flowing through the economy. The last chart shows the share of taxes that the top 1 percent contributes to our economy. The tax shares of the top 1 percent are around 20 percent. While the top 1 percent earns about 40 percent of the nation’s wealth, they’re only contributing 20 percent of what they’re earning back into the economy. This information is relevant because the share of taxes for the top 1 percent is not proportional considering the amount they’re earning.

history but it provokes an angry reaction from the American Left. The bill reduced personal income tax rates by 25 percent in three annual increments, cut capital gains and estate taxes, and reduced business taxes.” The illogical point was cutting taxes as the same rate for everyone. While several industries and high income earners received numerous benefits, low income earners still suffered financial burden because of “trickle-down economics.” In fact, federal income tax rates cut significantly for the wealthiest 20 percent of taxpayers.

“The bottom 40% of Americans own almost nothing.” Said the video, Wealth Inequality In America. The lower class are scraping by and are not able to invest in stocks or other consuming items whether it deal with money or time. The video, Wealth Inequality in America also said, “The top 20% of Americans own almost everything.” The wealthy community should contribute more to the lower class, allowing more equality of wealth.

Income inequality The article “Confronting Inequality,” written by Paul Krugman, a professor at Princeton University, emphasizes that the middle class suffers from social inequality and economic inequality. Krugman suggests building a stronger safety net so the gap between the poor and rich can be limited to by raising of the taxes. Krugman uses this claim to highlight the fact that the middle class needs to be stronger and the only way to achieve that is to have a strong safety net. Krugman says the rich use loopholes in the tax system to cheat their way out of high taxes, and the poor pay a relatively high tax compared to what they should be paying.

Currently, we have both a wealthy class and common people rule. Everyone (common people) gets to vote, and those votes decide our future. But, because of their wealthy, the wealthy have an advantage when it comes to politics. They can pay a lot for the best lawyer (the best example being the OJ Simpson case) and be proven innocent because the lawyer raised reasonable doubt. Also, wealthy business owners could get the government to move a smaller business/store, using eminent domain, and place their own business at the location, using the words “public use” to tell the people it was for them.

Krugman writes, “the rich weren’t just getting richer; they were becoming a financial foreigner, creating their own country within a country, their own society within a society, and their economy within an economy.” 563. CEOs or people with an abundance amount of money can give money to politicians create laws or stop enforcing the laws to benefits the rich. Politicians who the Middle-Class and Lower-Class vote for favors the one that could help them and that’s the High-Class. Economic inequality is hurt the middle-class and the lower-class who already had a rough time getting a life.

One of the arguments used is that we could regulate and tax the 1% income because that would be “fair” but these numbers show how harmful that way of thinking is. 18% of taxes for the “bottom” of the bracket which is around 20% of the U.S population.

Should America implement a flat tax? According to Steve Forbes “For many years, people have said, ‘Make the rich pay more,’ and many politicians have said, ‘The rich people need to pay their fair share,’” (Forbes) but what do we think is really fair?

The poor are blaming rich for their state, suggesting they ripped the poor off to become rich and not through hardwork, according to the New York times Poll and CBS News Poll that discovered “66% of Americans suggest that the wealth of the nation should be distributed more evenly and a majority of them want the rich to pay more taxes” (reich, p. 400).

I think we should cut taxes for the 99 percent of Americans

Also, the wealthy is known to be rich, so as they collect more and more taxes, they will spend it on stuff we don't need; instead of paying it on taxes. For

I believe that is our duties as citizens to help those less fortunate and help care for our fellow citizens. Therefore, this may require that we have to pay more taxes in order to provide for

The federal tax system is plagued with issues: It doesn 't raise sufficient revenue to back government spending, it is unpredictable, it makes results that are unreasonable, and it impedes monetary productivity. This part examines a few approaches to enhance charges, including making an esteem included duty, expanding natural taxes, improving the corporate expense, treating low-and center pay workers evenhandedly and productively, and guaranteeing suitable tax collection of high-wage family units. A good tax system raises the incomes expected to fund government spending in a way that is as basic, evenhanded, and development well growth as could reasonably be expected. The United States does not have a good tax system.

Governments need to tax its citizens in order to protect and serve them. Many politicians vehemently debate which taxation methods the government should or should not utilize. Most members of the United States of America pay taxes every year. No wonder taxes play a major role in politics. According to popular belief, we procure an income tax because it provides the best way to tax citizens.

Do you ever think of why should or shouldn’t the rich people pay more tax than others? Nowadays, people are arguing about the fairness of paying more tax. Statistics have proven that the rich have paid the majority of U.S. income taxes. A person making $100,000 will pay a higher percentage of his income in taxes than a person making $20,000 for instance. According to the Congressional Budget Office, “The 10% of households with the highest incomes pay more than half of all federal taxes.