The Forbes magazine suggest that the richest 400 people in America are only worth two trillion. However the top 1 percent of the wealthiest Americans hold forty-six percent of the wealth of America. Taxing forty-six percent of the wealth of America would be a lot of tax revenue
America was once considered a place where anybody could make it with hard work it was a very economically mobile society. According to journalist Jason DeParle "At least five large studies in recent years have found the United States to be less mobile than comparable nations."
Wealth isn't a crime but it does require creative destruction to maintain a vibrant economy. The English did this in the early 1900's with an estate tax the destroyed the wealth of the aristocrats, rent seeking Nobles. It provided money to produce a better educated healthy population to create and maintain the economy.
The federal government is trillions of dollars in debt. If we cut spending to reduce it, all we'd have is economic collapse (ie sequester, government shutdown). The top one percent of Americans hold forty-six percent of the wealth in this country; while the working poor struggles to get by. And yet rich people and large corporations often get gigantic tax credits and pay lower rates than the middle class do. Both the national debt and income inequality grew under Ronald Reagan, who cut taxes for the rich.
The Rich have an endless slew of tax codes that allow their taxes to never be collected to begin with, from off-shore tax havens to carried interest, the rich have numerous strategies to keep their money out of the hands of the tax collectors, which makes the actual tax rates pointless. Even still is when the tax rate is reduced for things like capital gains, it invisibly slashes taxes on the wealthy. So before we even talk about raising taxes on the wealthy, let's stop handing them billions of dollars and start actually enforcing the current tax rate of 34% and see where it gets us.
I love money so i should keep the money i earn because i deserve it so much. Mpney is yummy and o love it with all my heart because it benefits me so much. It also benefits my cute puppy with its food and bed to sleep in at night
Because they pay less than us.We use are money for productive things like food .And because it could be used for something better like donating to local food bank.Or not everybody wants to donate but don't spend it on fancy cars.Because most rich people do they brag.So there taxes should be raised
This is partially due to lack of income tax on wealthier families. What more taxes will do is help those who need help to get out of trouble and help to make their own money. Yes, the 1% could create incentive to go out and work, but it's extremely hard to get there. The chances of actually becoming a billionaire is about one in 785,166 -- about a 0.000001% chance.
If the income tax in the US was raised to 40% for wealthier people, the revenue generated would be around $157 billion in the first year. This would not necessarily get the US out of debt, obviously, but it would sure help their state at least a little bit.
The lower class is struggling to get through every day. "Trickle-down economics" obviously is not working. Something needs to be done in order to help the wealth gap that's apparent in the whole world, not just America. The people are struggling and need support.
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우리들 먹고 살기도 바쁜 시대에 부유층들은 편하게 먹고 놀고 쉬고 있는데 왜 우리가 세금을 인상해야 합니까? 전 소직히 우리가 그래야하는 이유를 알지 못하겠습니다. 따라서 저는 부유층에게 세금을 왜 인상해야 하는지 모르겠습니다. 또 우리들이 번 돈도 세금으로 내고있는데 부자나 졸부들에게 세금을 인상하고 싶지 않습니다.
따라서 우리는 부유층을 위해 세금을 인상하지 않아도 됩니다.
People who make more should not be charged more. They are the ones who actually work had to do well, and they succeed! Yes, studies show that since the 1970s, middle class income has tremendously gone down, but that is because they haven't worked hard! I am a teacher, and at least 75% of the 8th graders I teach don't try and slack off. They each have at least 2 Ds and many Cs. Rich people shouldn't have to pay more for trying harder
People tend to forget how much money it costs to expand a business. Let me give you a hint... It's a LOT and it's a gamble to boot. This is the case even for all the Trumps and Gates out there. The more the wealthy are extra-taxed, the less inclined they feel to take a risk on expanding businesses and providing more jobs to the public. And the less businesses and jobs that are out there, the more current businesses can mistreat their employees, because... Where else are they going to go? The thing about capitalism and free-markets that their foes don't understand is that we that support them KNOW that they support greed. But greed is a human trait that will never cease to be. You can't just make it go away with a more naive system that believes that people will do the right thing in the end, because they won't... And that doesn't just apply to rich people. There are many poor people out there that are easily just as corrupt as the rich could ever hope to be; taking advantage of a runaway welfare system that's fine pumping the money of taxpayers into buying their beer and cable television despite there being nothing physically wrong with them.
Wealth does not equate corruption. All humans are corrupt and always will be (and yes, I know of the blessed individuals that are exceptions. I'm speaking of humanity in general). Free markets, capitalism, fair taxes (such as flat percentage taxes) ACKNOWLEDGE the greed of humanity and find a way to make others, rich or poor, THRIVE on it rather than pretend that we can wish it away with happy thoughts and trust in people to 'do the right thing in the end'.
By taxing the wealthy fairly, they feel more inclined to risk expanding their businesses and compete with others. The more jobs that are out there, the more CEOs will be forced to pay their workers more and treat them nicer if they don't want them to just flip them the bird and go work for their competitors.
If any kind of job could stand a cut, it's government jobs. These don't have to answer to a damn thing, are corrupted to the core by Chicago-style unions, and many of which don't really do a damn thing for anyone. The Post Office ran SO much better several years ago and was one of two of the only government factions that actually MADE money rather than lost it (Weights & Measures was the other). What brought the change? Numerous government-backed union rules and positions with no real use. The Post Office made money when it was running itself more like a business than the usual government boondoggle and cutting THAT is where you can save a great deal of money.
If being wealthy becomes treated as a crime (tax is a penalty) then it drops incentives to continue to be wealthy & produce. Who will be left to pay these taxes? Once production is dropped prices will rise but nobody will have the means to pay for it. It's a flawed system. Margaret Thatcher summed it up well: "The problem with socialism is that you eventually run out of other peoples' money."
The Federal government already rakes in about $2.4 trillion every year. If we look at the Forbes 400 ( the list of the 400 wealthiest Americans), we see that their total wealth is about $2 trillion. This means that even if we raised their taxes to 100% not of income but of wealth it would not feed the government for even one year. In other words, if we took every thing these people owned ( by confiscation), the government would be back next year for you and me.
The issue is not taxes, but rather out of control federal spending.