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Increase taxes on the wealthy

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Voting Style: Open Point System: 7 Point
Started: 3/11/2014 Category: Economics
Updated: 7 years ago Status: Post Voting Period
Viewed: 2,078 times Debate No: 48887
Debate Rounds (3)
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P1) Taxes on the rich can help the economy. The money from the wealthy can be used for investments in "education and infrastructure", while allowing lower taxes for the middle class that can promote more spending for the economy.

P2) The rich have more money to spend in taxes. They are not paying as much as they should. The more money one makes the less taxes they seem to pay compared to people who are not in the one percent.

C: There should be tax increases on the wealthy.


p1- Taxing the rich does not help the economy. While taxes maybe redistributed to provide social welfare, in the long run it does not helps society because the rich would be discourage from investing into the economy. Investing into the economy ranges from giving money to non-profits, creating jobs, and lending money to start-ups. An employed society is what helps the economy.

P2- Most of the money that the rich have are hard earned money. Taxing the rich is essentially punishing them for money that they work hard for or for money that they inherited. America strives on work hard and reap the benefits.

P3- Taxing the rich will reduce spending because rich people spend more on goods and services in the economy. Buying and selling is what fuel the economy. Less spending by the rich could lead to a continued recession.

C- There should not be a tax increase on the wealthy.
Debate Round No. 1


P1) The job creators are the middle class "whose spending encourages businesses to expand and hire" because the middle class is so vast. As far as investments go a study conducted shows the rich still spend the same on investments after a tax increase.

P2) Taxes are not punishing the wealthy. The matter has to do with being fair. It makes sense that wealthy people with a lot more money who "save most of what they earn" after tax increases have to pay more, in comparison with a family that is in the middle class and still has a lot to do with their money.

P3) The rich will not stop spending money. A study concluded that people who make 500,000 or more a year (which are the most greatly taxed) ended up spending the same amount they normally did in investments and other spending in general.


P1-The job creators are not the middle class. The rich are the job creators and the ones that fund the creation of new businesses. A tax increase on the rich means less money will be given to private charities and to the establishment of these new businesses, with more funds instead going to politicians.

P2- Raising taxes on the rich in itself is not fair. People should be free to use the money that they earned or inherited however they please without government intrusion. America was founded on the promise of equality for all, and raising taxes on the rich does not promote equality- it only divides society.

P3- Taxing the rich not only prevents the rich from large spending, but it lowers consumer spending. The rich are the ones that are more inclined to buy houses, and raises taxes on the rich will only prolong the housing crash. It can also eventually lead to inflation, and the middle class having to pay the same tax increase that was eventually meant for the rich.

C-There should not be a tax increase on the wealthy.
Debate Round No. 2


P1) The business the rich make or help make cannot compete with the buying power of the middle class. If there is no one who can afford what a business has to sell then they end up failing. Even though the rich has more money it does not mean that they buy more than the average person.
The rich end up spending the same as they always do even with a tax increase, in all areas so money is still going to go into those areas anyways.

P2) Having the rich get richer does not promote equality either. The rich take advantage of the tax cuts, especially on investments, to just end up making more money. This is not fair for the middle class who cannot take advantage in the same way. The rich have more than enough to pay the taxes comfortably.

P3) Raising taxes does not lower consumer spending because it actually promotes supply and demand.
The housing bubble "was first driven by 'high-end consumption'". This is part of "unruly surpluses" because "higher profits aren"t needed for investment in goods production". After 1919 the focus should be on investing and saving. Part of the reason for the housing bubble was Bush's tax cuts as the rich would get into the housing market because tax cuts do not cause an increase in investment. So in any case the bubble started because of the tax cuts.
Actually the true effect of inflation is on the rich, not the middle class, "tax cuts for the rich just inflate the price of positional luxury goods and hence do not benefit the rich people"
As for the middle class having to pay more, they will benefit if "loopholes that largely benefit the wealthy -- like the capital gains exemption, certain estate tax provisions and corporate tax breaks" close. This is because the earned income tax would help the incomes of the poor and middle class by giving them incentive's on saving and working.


P1- The buying power of the middle class have been declining.
There was a fallacy, red herring, in your argument. The issue at hand is whether taxes should be increase on the rich. By taxing the rich, the government create incentives for many corporations or businesses to fail. This not only affects the rich, but the entire economy. In addition, increased taxes on the wealthy will contribute to business having a higher chance of failing. Also, it encourages those with high income to shift much of the tax burden on those with lower income. For example, consumer prices may be increase in sale taxes. Taxes will be paid by the merchant and then charge to the consumer.
Moreover, the second source that was provided was misread. The rich do not spend more or invest into the economy. Instead, when taxes are raised they alter their spending or investing behavior by investing outside of the country and keeping their money offshore

P2- It"s not letting the rich get richer. The rich are valuable and are intelligent people in society. They work and used their skills to earn their money. Increase taxes on the rich does not promote equality either. When you raise taxes on the rich the burden of those costs spread out eventually to the middle class and the lower class. It is unfair that people's morale would be raised simply because the government takes more and more from people who worked hard for their money- this is not fair. The middle class should invest as the wealthy is doing, than stating that it is unfair for the rich to end up making more money.

P3- Raising taxes lower consumer spending, and it shift the burden to those that provide services to the rich. For example, in the construction company, a rich family needs a renovation to be done on their kitchen, but they are affected by the tax increase. Thus, this puts the contractor, as well as the people that he was going to employ out of jobs. Moreover, all the people that provide services to the rich will face a decrease in their income because their consumers have less to spend. The argument about the effects of inflation on the rich is fallacious. The effects of high inflation affects the entire economy, not only the rich. Moreover, increasing taxes on the wealthy will lead to a domino effect. This means that instead of benefiting the middle class and the poor by these revenues collected, raises taxes will hurt the economy.

C-Therefore, there should not be a tax increase on the wealthy
Debate Round No. 3
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