The top 1% of family-earned incomes made 17% of AGI (Adjusted Gross Incomes) in the country; however, they also paid 37% of federal income taxes in 2009 (Dubay). The upper class should not have to pay more taxes than they already do because they already pay far more than their share. They should not be punished for working hard and receiving a significant amount of money. If everyone had the same amount of money, there would be no incentive for individuals to work, to save, and to invest to create and boost businesses and ultimately the economy.
Families in the wealthiest 1% of the U.S. possess at least a $340,000 income. They earn 17% of AGI in the country (Dubay). This percentage is excessive for 1% of the population. What is even more shocking is that this 1% pays 37% of all federal income taxes (Dubay). Some would say that, "The rich do not pay their fair share (Johnson)." In truth, the top 20% of income earners in the United States pay 70% of all federal taxes (Dubay). Also, the wealthiest 20% contribute more than 86% of all federal income taxes as opposed to the financial bottom half of …show more content…
Most of the upper class didn't have their money fall into their lap. Many of them worked hard and obtained a higher education to be where they are today. Keep in mind the cost of tuition for college and post-graduate degrees as well as the extra time and effort which were needed to earn more than their peers in the long run. Simply because the rich can afford to pay higher taxes, it doesn’t mean that they should be forced to do so (Dubay). Why should one be penalized for being a hard-working citizen who contributes substantially to society? If people want to be successful financially, they should work hard and get a top-rate education and high paying job instead of relying on their government to bail them
Families in the wealthiest 1% of the U.S. possess at least a $340,000 income. They earn 17% of AGI in the country (Dubay). This percentage is excessive for 1% of the population. What is even more shocking is that this 1% pays 37% of all federal income taxes (Dubay). Some would say that, "The rich do not pay their fair share (Johnson)." In truth, the top 20% of income earners in the United States pay 70% of all federal taxes (Dubay). Also, the wealthiest 20% contribute more than 86% of all federal income taxes as opposed to the financial bottom half of …show more content…
Most of the upper class didn't have their money fall into their lap. Many of them worked hard and obtained a higher education to be where they are today. Keep in mind the cost of tuition for college and post-graduate degrees as well as the extra time and effort which were needed to earn more than their peers in the long run. Simply because the rich can afford to pay higher taxes, it doesn’t mean that they should be forced to do so (Dubay). Why should one be penalized for being a hard-working citizen who contributes substantially to society? If people want to be successful financially, they should work hard and get a top-rate education and high paying job instead of relying on their government to bail them