Preview

Explain Why Rich People Should Not Be Taxes

Good Essays
Open Document
Open Document
499 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Explain Why Rich People Should Not Be Taxes
Rich people should not be taxed more for making a lot of money. Doing so would basically discourage big entreprenuership and would make rich people feel like they are being punished for making big bucks. Taxing rich people more is not fair. The 14th amendment says we have equal protection under the law , so in turn would mean everybody should be taxed at the same rate as the next guy. It would be illegal to tax the wealthy more. US citizens should all have the same percentage of taxation. If everybody was to be taxed 10% that would be more than enough for the federal government to spend on society. This Would be more fair this way.

With this said, taxing brackets need to be done away with. There is no point in taxing a person 35% or 39% based on their income . I dont even understand how this is legal. That is more than ⅓ of an individuals income. Just because they work hard and have successful buisness does not mean the government should be allowed to take advantage of your success and put their hand in it. We as Americans should not have to put up with this and should put a stop to it.
…show more content…
They would mainly focus money to taxes when they should be focusing money on expanding buisness. Everybody knows that an individual can spend money more efficiently than our country knows how to. Without a high income tax , we would have more money for expanding buisness. Expanding buisnesses means more jobs plus the economy grows. When the economy grows that means a plus for everybody living in this

You May Also Find These Documents Helpful

  • Good Essays

    Every day, our government is spending billions of dollars to support and defend American citizens. Programs in education, social security, welfare, environmental regulation, national defense and many other realms of our society require massive budgets to function and grow. So to fund all the interests of the country, many different types of taxes are imposed on people and businesses. But due to recent economic downturns, some doubt the tax code and want reform. While there may be some benefits to a change, altering our tax system would end up creating many more problems than it would fix, hurting the nation’s economy and its growth.…

    • 1559 Words
    • 7 Pages
    Good Essays
  • Powerful Essays

    James Hall.Chapter16

    • 2254 Words
    • 10 Pages

    People opposed to the estate tax often refer to it as the “death tax”, perhaps implying that since we all must die, we all must pay it, and that a tax on dying is somehow unfair. Clarify that a very small percent of our citizens pay this tax, and that they are primarily very high-income people.…

    • 2254 Words
    • 10 Pages
    Powerful Essays
  • Powerful Essays

    Lowering the corporate tax rate would incentivize the creation of jobs in the United States instead of overseas, passes savings on to consumers through lower prices, and would also encourage increased investments into research and development in the country. The United States already stands a great disadvantage to the rest of the world due to its high corporate tax rate and without action being taken we stand to only continue down a path of decline in our job market.…

    • 1829 Words
    • 5 Pages
    Powerful Essays
  • Powerful Essays

    The most obvious benefit of the flat tax rate would be its simplicity. Many Americans struggle with the complexity of current tax forms, but with a flat rate, that would be eradicated. “The individual postcard is so simple that a third-grader could file a family 's tax return in about five minutes,” says Daniel Mitchell, a supporter of the reform (2005). Only having two postcards would eliminate waste, save time and money, and eliminate the need for extraneous work at the Internal Revenue Service, which costs $12 billion to operate annually (Mitchell, 2010). Furthermore, a flat tax system may promote economic growth. According to Mitchell, a new system would “spur increased work,…

    • 1187 Words
    • 5 Pages
    Powerful Essays
  • Good Essays

    However, it was the downward sequence of events that followed the tax cuts which made it seem like a bad idea to begin with. Starting with the rationale behind the tax cuts when they were proposed, it was undeniable that the main class benefitting from maintaining a portion of their income would be the rich due to the large amounts of money they would be saving. However, the defense of this notion was the idea that the money which the rich would be saving would be used to create jobs for the working class. The failing portion of this idea came due to the fact there was no large quantity of additional jobs came from the large amounts of money the rich saved. While there were a variety of events that unfolded which perhaps hindered the results Bush planned on obtaining from his tax plans such as the War on Terror, ignited by the 9/11 terror attacks, there is no solid evidence that the tax plans created jobs at all. From my perspective, allowing lower class citizens to keep a larger portion of their checks initially seems like a great idea, but to sustain long term economic growth this idea quickly becomes negative. Since the tax cuts were not saving those with lower income a large amount of money, they were not spending greater amounts…

    • 812 Words
    • 4 Pages
    Good Essays
  • Good Essays

    People will no longer have to pay income tax, so they'll get to receive 100 percent of their income. This, as experts assume, will lead to higher consumer spending and help stabilize the economy even when certain federal taxes would be abolished.…

    • 598 Words
    • 3 Pages
    Good Essays
  • Good Essays

    This could lead to a high rise in other taxes in order to match what they would previously gain from federal taxes. The money paid as income tax contributes back into the states and nation. Infrastructure such as highways, schools, and roads are dependent on federal funding as so is Social Security, Medicare, hospital insurance, unemployment insurance, military and law enforcement, and national defense. Once the tax is abolished the whole country would immediately feel the impact. It would be impossible to pay of national debt. Even though nobody enjoys paying taxes it does benefit us in ways we may not recognize. There could be improvements but federal taxes should not be removed as a whole; it could lead to government shutdown, national bankruptcy, and chaos within the streets. This tax is necessary even though it might seem evil to us. It benefits the needy greatly in America and those who cannot help themselves. It is a strong catalyst of cash flow in our economy and improvement of our…

    • 628 Words
    • 3 Pages
    Good Essays
  • Good Essays

    , it shows us that in the state of Texas, the poorest 20% of the state pays 12.2% in taxes of their income, the middle 60% pays 7.6%, and the top 1% pays 3.3%. Being a regressive state results in having people who have a hard time supporting themselves paying more than people who have no problem with their finances. With an income tax, it would turn the state into a “progressive state” meaning that the people will be taxed based on their income, and it would be an appropriate amount for what they earn.…

    • 539 Words
    • 3 Pages
    Good Essays
  • Satisfactory Essays

    Do you ever wonder where all the money collected from taxes goes? Well, part of it goes to public education, Medicare and health insurance services, corrections, public transportation, social services, the police department, and more. What would happen if tomorrow all of these facilities disappear and you had to pay it all with money coming out of your pocket? I know it would be a disaster. Consequently, there would be no more law enforcement, public transportation, nor public schools, and more public services provided by the payment of our taxes. For endless, everyone would be able to do whatever they pleased, more people would die because of illness, or tragedies, and education would be just for those who are able to afford it. In the article “Tech Untaxed: Tax Avoidance in Silicon Valley, and How America’s Richest Company Pays a Lower Tax Rate than You Do” published by The Greenlining Institute, experts assert us that some of America’s most successful companies have been evading the paying of taxes and in some cases, they pay a lower tax rate than a middle class person. To explain matters a little further the article mentions, “The tax rate paid by Apple, the world’s most valuable company… fell from 24.8 percent in 2009 to 14.7 percent in 2010 and 9.8 percent in 2011.…

    • 338 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    Advocates of this ideology say taxing the wealthy will make them unhappy with the country and will make them emigrate to a country with lower tax rate. Proponents of tax breaks say that when the affluent are given tax breaks the economy will prosper because the rich are more likely to spend. The tax break advocates say cutting the top tax rate will increase economic growth because when the wealthy spend their money, growth will occur in small businesses, which in turn causes wage growth, income growth as well as job creation. The advocates say that this all increases the tax revenue for the government in the end, so cutting taxes for the rich is the long term solution to the inequality between the lower class and upper…

    • 1358 Words
    • 6 Pages
    Powerful Essays
  • Powerful Essays

    Some people feel the rich do not pay their fair share in taxes. “The 95th/50th ratio in 2011 was $186,000 divided by $50,054, which equals 3.72. In other words, the income of houses in the 95th percentile was 3.72 times the income of households in the 50th percentile. Those in the top 25th percentile obtained a vast majority of the income in America (79.5% in 2007 and 75.9% in 2010.” (Evans, “Wealth”). This does prove that wealth is not evenly distributed among all Americans, which is an understandable thing to be upset…

    • 1059 Words
    • 5 Pages
    Powerful Essays
  • Good Essays

    Sanders quote “ TAX THE RICH!” ( Figure 1) which that America should stop taxing the middle class and the poor and start taxing the rich. Trump, being a billionaire he should be taxed more thats why Bernie points to him in the cartoon (Figure 1). Money needs to stop always being taken away from people that don't have much to spare. They have more money and they can replenish it faster than the middle class can. Bernie wants to help America for the better. Trump on the other hand thinks just because he is a very rich man he can say and do whatever he wants. He has the money and money being everything today, he pretty much can. That still doesn’t make it right…

    • 795 Words
    • 4 Pages
    Good Essays
  • Good Essays

    Wealth In America

    • 693 Words
    • 3 Pages

    Which is pay no wealth tax, they can defer their income taxes, and pay a reduced capital gains tax when they decide to cash in. The wealthy have a loophole in paying taxes where they pay a lower percent of their annual income, leaving them to have more of their money to self. Whereas the poor or middle-class families are paying a huge part of their taxes to the government.…

    • 693 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Taxing is a big concept in America and almost everything is taxed as well as income. The problem is that everyone wants low income taxes. America has one of the lowest taxes of any country. Wealthy people don’t want to be taxed as much because they feel it is unfair that more money is getting taken away, while poor people feel it’s unfair that wealthy people make so much money while they are struggling making enough money to provide for their families and pay the bills. The government can higher taxes on people who make more money than the rest and provide more benefits for the less fortunate. It’s hard to come to a consensus when it comes down to everyone’s wealth, but as long as it does not have an affect on our physical and mental…

    • 641 Words
    • 3 Pages
    Good Essays
  • Powerful Essays

    It sounds good to me, but what is wrong with that? In the article of Brandon King, he says: “Some, however, argue that raising taxes on the rich and in American’s wealthy business is an effective means of closing the income gap”(King 576). King’s point is that raising taxes on the rich the economy and the opportunities will change. I totally disagree with King’s argument because I think its unfair that other people scarifies themselves working long ours and getting pay for their work when someone else is not working and only wants to depend by others or the government. As result, King believes in government involvement in the economy and he totally agree that if the government help us it will be an open door for the struggling business and the creation of new jobs which I think he is wrong, because the government shouldn’t get into the American’s life and instead they should make rules such as being more responsible to the country so the American dream can come…

    • 1735 Words
    • 7 Pages
    Powerful Essays