Should The Rich Be Taxed

With America’s economy struggling, many citizens believe that the rich should be taxed more to help fix the economy. This issue has caused a division between those who believe the rich should be taxed more and those who do not. For example, when voting for presidents, this problem is a major factor of who gets voted into office. The reason that the rich can be taxed without the rest of the country being taxed is, America’s income tax system is set up by using a graduated tax bracket. This means that the more money a person makes, the higher the percentage of money they have to pay. The rich should not be taxed more because they already pay the highest percentage of their money to taxes, the government does not spend money wisely, and the rich …show more content…
The people who support raising taxes on the rich think that the government just needs more funding to be able to do all the projects the government wants to have accomplished. “Further, Mr. Obama wants to raise taxes on the "rich," believing that we need more revenue for his projects” (Kleist). They believe that the government needs more money to spend on important projects. Taxing the rich would bring in more revenue for the government to spend; however, it is how they spend it that matters. The key to being able to fund these projects is not raising taxes on the rich; instead, it is learning how to spend the money that the government does make from taxes efficiently. 2.3 trillion dollars is what the government will make this year in income taxes. The arguments for increasing taxes on the rich are not based on the United States government using the tax funds wisely. “None of the arguments for increasing taxes are based on producing a workable financial model for our government, based on an agreement on what its functions should be and what those functions should cost if operated efficiently” (Randall). It will not help our economy at all if we just increase taxes and do not become smarter about our spending. The government would have more than enough money from taxes if they would learn how to spend the money. We would not be in the position to choose between paying more money or having services that every government should provide for its people. If we tax the rich more and keep spending tax money on unnecessary projects and programs then we will dig ourselves an even bigger hole that is becoming harder and harder to escape. America is currently sixteen trillion dollars in debt, and raising taxes without fixing spending will not help us get on the right