Most people who live in the United States think the rich aren’t paying enough taxes (AP Washington). Our society has had a belief for years that the rich do not pay their fair share or that they are hiding their money somewhere. However, in reality, it’s the total opposite. Many people think taxing the rich is a good idea because it could help reduce our national debt level. Many people think that taxing the rich is a good idea; however, the rich deserve what they earn, they already pay large taxes, and taxing them more can cause economic disruption throughout the country. The rich deserve what they have earned over the years. Much of the United States thinks that the rich get rich by inheritance (Analytical Economist). False! Many of them become rich because they have worked extremely hard in what they do. In fact, 90% of
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As of 2016, people with an adjusted gross income above $466,000, had a tax rate of at least 39.6%. On the contrary, those who had an adjusted gross income anywhere between $0 and $18,550, have a tax rate below 10% (2017 Tax Guide). That is an extremely large difference. If you think about it, one with a high income pays nearly half of their adjusted gross income in taxes. That just doesn’t make any sense. Why should one who has earned more through dedicated hard work and long hours be taxed at a rate that is substantially higher than an individual who chose to be a “floater” in life. Truly, only the rich pay majority of the US taxes and those tax dollars are running programs for those that made the choice not to pursue higher education or even take a chance to better themselves or family. The frustration of many hard working high earners is that their hard work earnings are being redistributed to those who work less, try less, are less educated, and have less motivation to become high earning citizens themselves (Tony
As of 2016, people with an adjusted gross income above $466,000, had a tax rate of at least 39.6%. On the contrary, those who had an adjusted gross income anywhere between $0 and $18,550, have a tax rate below 10% (2017 Tax Guide). That is an extremely large difference. If you think about it, one with a high income pays nearly half of their adjusted gross income in taxes. That just doesn’t make any sense. Why should one who has earned more through dedicated hard work and long hours be taxed at a rate that is substantially higher than an individual who chose to be a “floater” in life. Truly, only the rich pay majority of the US taxes and those tax dollars are running programs for those that made the choice not to pursue higher education or even take a chance to better themselves or family. The frustration of many hard working high earners is that their hard work earnings are being redistributed to those who work less, try less, are less educated, and have less motivation to become high earning citizens themselves (Tony