Why The Rich Should Pay More Taxes - 749 Words

Taxation rate is a very controversial topic in America. Many people like Mark Rosenfelder, Author of Why the Rich Should Pay More Taxes, believe that the more you make the more you should be taxed. They justify this by saying that Upper class, well-to-do individuals take more from the government. They say because wealthy people have more, they have more to lose; thus they require more protection. Many believe that a flat tax, a tax in which all citizens pay equal tax regardless of their income, is unfair. Really? Taxing someone because they work hard and make more money seems to make less sense. Raising the tax rate just because they work hard and have more than other people isn’t right. The wealthy upper-class citizen did not make the lower class poor and shouldn’t be taxed heavily to support them. In his essay Rosenfelder focuses his attention on how to bleed the wealthy for their money through a progressive tax. James Madison Declared, â€Å"The apportionment of taxes on the various descriptions of property is an act which seems to require the most exact impartiality; yet there is, perhaps, no legislative act in which greater opportunity and temptation are given to a predominant party to trample on the rules of justice.† In this quote James Madison states that the appointment of taxes must be completely impartial. In other words, everyone should be equally taxed. Also, Madison continues to state that the legislative tax offers a dangerous opportunity to distort justice. ThisShow MoreRelatedIs It Ethical to Tax the Rich More1728 Words   |  7 PagesShould the Rich Pay Higher Taxes? I would first like to start off by saying that this question really doesn’t make sense as the rich already pay higher taxes and the candidates aren’t trying to make it so everyone pays the same amount, just that the rich will either pay more taxes or get a tax break. According to usatoday.com â€Å"The 10% of households with the highest incomes pay more than half of all federal taxes. They pay more than 70% of federal income taxes, according to the Congressional BudgetRead MoreWhy The Rich Should Pay Higher Taxes1730 Words   |  7 Pagesyou 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 bigg er corporations to have to pay more so they would be unable to escapeRead MoreAnalysis of Rich Dad, Poor Dad955 Words   |  4 PagesIntroduction Rich Dad, Poor Dad is a book that educates readers about financial literacy. Robert Kiyosaki, the author, has two dads – one rich and one poor, although the rich dad is not his, but his friend’s dad. Both dads have different views about earning money, and Robert had the choice of contrasting both views while growing up. His rich dad’s views were more powerful and useful to Robert. The author guides the reader through six main lessons his rich dad taught him on how to let money work forRead MoreEssay on Taxation985 Words   |  4 Pageshave the responsibility of ensuring that the system takes into account the needs of the citizens. The bottom line is that taxation should foster equal distribution of resources. The rate of taxation is usually arrived at after several considerations have been made. The rates are not fixed as they depend on the various economic changes. The issue of how taxation should be distributed among the different economic classes is yet to be addressed. Whenever economic turbulence increases, the policy makersRead MoreShould Rich People Pay More Taxes?1285 Words   |  6 Pagesthey always had a way of getting. Now, they aren’t rich but they’re not struggling either. They are just the ordinary simple middle class that pay taxes every year. But the question is should rich people pay more taxes? And I think yes, because the tax code we currently have is unfair. However, before I explain my reasoning I should explain the further terms about the tax system. The tax system is a legal system for assessing and collecting taxes. Taxation is a sum of money demanded by a governmentRead MoreDebate on Taxes Essay1137 Words   |  5 Pagesthe more wealthy individuals in a society should be taxed more heavily than their poorer counterparts. Many have argued over the pros and cons of the taxation of richer people, but when one looks at it objectively, the pros far outweigh the cons. Not only do the pros outweigh the cons, but a question one must ask oneself is whether or not prosperous people really need that extra money? Richer people should be taxed higher because it is better for the economy, social classes will become more evenRead MoreAre The Rich Taxed Enough?1264 Words   |  6 PagesWhen asked the question, â€Å"Are the rich taxed enough?† The first thought that comes to mind is, at what point is someone considered rich? Following tha t answer, at what point are they taxed enough? Forbes magazine considers one rich when he or she reaches one million dollars of income in a single year. In 2015 if one makes more than $413,201 they are taxed at the max of $119,996.25 plus the 39% for every cent after that. Leading back to â€Å"Is this enough?† Now consider the fact that the richest 1% makeRead MoreWhy The Rich Should Not Be Taxed More1515 Words   |  7 PagesWhy the Rich Should Not Be Taxed More Many Americans agree today that there should be higher taxes on the wealthy. Many surveys have been conducted to reveal the opinion of whether or not the rich should be taxed more. Many of the surveys equaled out with opinions and others, like one conducted in 2010, showed that 67 percent of Americans believe that the wealthy should pay more in social security tax. From another survey conducted a year later in 2011, Americans were asked whether the wealthy shouldRead MoreRich Dad, Poor Dad Book Review1145 Words   |  5 Pagesfind a high-paying job with great benefits, my parents used to say. Their goal in life was to provide a college education for my older sister and me, so that we would have the greatest chance for success in life. This is the introduction to the book Rich Dad Poor Dad by Robert T. Kiyosaki. This is especially true in the context of Asian countries where most of us are told to cram for exams, get good grades (top the class if possible) and jobs with fat paychecks and benefits. Though times are changingRead MoreTax Money For Social Programs993 Words   |  4 Pagesgoing to get the fair idea of why and what taxes do. The government is not self financing so the money for social programs must come from some where. Taxation can be defined as being a means of collecting money from citizens and businesses within the country to support its operations. The Affirmative State is a state that provides a wide range of public good and services and plays an active role in solving social problems and advancing public purposes. Looking at taxes they do two things: first the