The Benefits Of Raising Taxes On The Rich

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Raising the taxes on the wealthy would be a great option. The goal is not to tax them to the point of taking it all away, but making it fair, especially in times of struggle. Bob Herbert 2010, a New York Times columnist states that,” America does not have the common sense to raise taxes” (qtd. in King 614). I couldn’t agree more with his statement, as it seems like everyone is intimidated to raise taxes on the wealthy, or makes up excuses why we cannot do so. According to writer Dana Golden 2009, “the more wealth the rich accumulate, the more they will spend it, thereby stimulating the economy” (qtd. in King 614). Golden’s claim that the more wealth the rich have, the more they will spend it, rests upon the questionable assumption that they …show more content…
They are very aware how lucky they are, and do not wish to suffer like many of the middle and lower class. Dana Golden also says that, “taxing the rich only decreases their spending potential and thus their ability to stimulate the economy” (qtd. in King 614). Although I grant how much they spend will decrease, I still maintain that they will have a definite spending allowance. Let’s be more specific here because this statement I highly disagree with. If the taxes on the rich do go up, I believe you will see a change in spending, but it will not hurt our economy at all or else the rest of us are hurting our country by buying such brands. So, they no longer can buy a Ferrari and now have to buy a Chevy. They cannot afford to wear Versace and now shop for clothes at Wal-Mart. What are going to change are brands and how much they invest in the market, but stimulation of the economy is still occurring. Even better, some American made brands are being purchased versus all the high priced overseas brands. If raising the taxes had any chance of helping our nation recover, then the government should incorporate …show more content…
But the New Deal has vanquished and ever since, our economy has fallen apart, and the classes are so far apart with no bridges. It just so happens when we let all these rules go, America fell apart and at the same time, we continued to expand to become a stronger unit and we still fell apart. It can be confusing at times to really pinpoint just what went wrong. So many things were happening all at once, and I believe the government had the best intentions, but some of the worst things have been done with the best intentions. The government needs to band together, and take a good hard look at the middle class, and what they are going through. Maybe they can go out into the real world, take a look for themselves, and actually talk to the people and hear their stories. They need to consider where they once were and where they are today. The middle class deserves a chance to start over and flourish once again. If times have just changed and we all must go onto college after high school to attain a slot in the middle class society, then all children in high school need to be notified of the choices they need to make, as well as parents. Everyone in the United States deserves the chance to be set up to succeed,

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