Essay!
What are the consequences of burdening the middle class with high taxes rather than the proportionate taxation of the upper class? What good is coming from the rich? How would society change if the rich do step up?
There has been much discussion lately about the burdening tax on middle class workers which is benefiting the wealthy. The current system of multiple taxes, which considered as a whole is grossly unfair. It is weakening our economy and underfunding our governments. Wealthy people are putting their entire tax burden on the middle class workers while the middle class are working very hard to run their family but ended up paying half of their income on tax to government. However, increasing the tax of the wealthy while decreasing taxes of the working and middle class would move us toward and equitable tax system, improve the economy and strengthen the nation.
Burdening middle class worker with high taxes will result in loss of economy and would likely decrease in consumption. There’s a whole lots of good coming from the rich if they step up like more investments in infrastructure, education which are vital for growth and the economic prospects of the middle class. In the article “Welcome to Plutocracy” Bill Moyers explained to us that the government is allowing the middle class to pay more taxes than the rich while wealthy people income is higher than middle class and it’s because wealthy are being supported by government. According to the Congressional Budget Office “Over the past three decades, it is estimated that between 1979 and 2005 the inflation-adjusted income distribution rose up to 21 percent. Its growth but slow, comparing with the 100 percent rise in median income over a generation after World War II.” There would be a huge change in society if the rich start paying fair taxes to government like Less sitting in traffic jams, better educated fellow citizens, less pollution, cleaner water, more healthcare research, less communicable disease, longer lives, less crime, fewer potholes, more parks, better libraries, better public schools, on and on. These improve the lives of the wealthy – and everyone. The wealthy would benefit from the knowledge that they are giving back their share to the society.
The Essay on We Have No Class (Middle Class)
In Paul Krugman’s Confronting Inequality, we are told, as citizens of the United States, the damages of high and rising inequality within our country. Krugman describes America as a place of unclear economic progress for the middle class while the share of economic growth in the past 3 decades has gone to the wealthy 1%. Krugman next describes the impact such inequality has on our society and ...
Furthermore, the wealthiest Americans believe that they’ve earned their money through hard work and innovation and those they’re most productive members of society but they are wrong, they’re not nearly as productive as middle class workers. Rich have increased their income by not paying taxes to government and yet middle class have stayed in same position because of giving their income paying taxes to government. Wealthy Americans would benefit America in many ways if they start paying tax like middle class workers do likewise stronger economy through the average person being able to share in the overall growth of the economy, better educated citizens, better governments, improved economic infrastructure, reduction in debt burden on future generations, Less government expenditure to collect, simplified tax system, reduction in taxes for small business, less suffering throughout the world etc..
In addition, why do we pay taxes and where does our tax go? There is many services where we make possible with our taxes like Educating children, an investment in our economy and future , Risking lives to maintain public safety, Promoting technology which supports industry, employment, the economy, Building basic infrastructure-including transportation systems, Working and fighting to build a better world overseas. The rich, being the wealthy have a majority of the money in the United States thus must be charged with higher taxes to not only to be fair but to help put the country out of debt. If the rich paid their fair share to government , the taxes of each working-poor and middle class household could be reduced by thousands; we could slash the national debt, the economy would flourish and everyone-poor, middle-class, rich would benefit. Increasing taxes on the middle class would likely decrease consumption and so trigger a slide back into recession.
The Term Paper on Shrinking Buying Power Of The Middle Class
The Shrinking Buying Power of the Middle Class According to the Merriam-Websters Online Dictionary, the middle class is a class occupying a position between the upper class and the lower class; especially: a fluid heterogeneous socioeconomic grouping composed principally of business and professional people, bureaucrats, and some farmers and skilled workers sharing common social characteristics and ...
In Conclusion, I would like to say that Rich people can afford to pay more taxes were as middle class citizen can afford to pay less. Logically it only makes sense that rich people should contribute more. Rich will argue that they made their money by their own, but the fact is that’s not true. They went to school which is paid by taxes. If the middle class alone pays all the taxes there isn’t going to be enough wealth for the roads to get paved, schools to open or the military to operate. The taxes that the rich pay means that the middle and lower class become better off. Once the middle and lower class are better off, they can pay for more things and that money goes to the rich people.
