Why should the wealthy pay more in taxes?
I posed a question this morning asking what people thought the "fair share" should be for wealthy Americans; specifically, what percentage they should pay in taxes, and I've gotten some interesting responses.
Now I'll pose the flip side to that question. Assuming the same $500,000 per year income as in the last question:
Why should I have to pay a larger percentage in Taxes, simply because I earn more money.
Because most rich people aren't willing to donate enough to charity to alleviate poverty and starvation.
Also, one can only become rich in this country with the help of others. Educated work force, strong infrastructure, rule of law. There's a moral obligation to help those who have passed behind you.
You have to be kidding. The amount that the wealthy in this country donate to charities is enourmous. Over $315 BILLION is donated on a yearly basis in the US alone.
Amount matters, as well as percentage of income.
Let's say I make 5 million dollars a year. I pay 50% in taxes (combined state, federal, local). That leaves me 2.5 million. I give 10% to my church, which does a lot of charity work. That leaves
The simple fact is obviously they are not donating enough, poverty continues to increase as does the wealth gap already the worst in the first world.
It used to be, you made it big, you go to your home down and build a school, or a library. No one does that now. Government does. Rich people should still help home towns.
Simple as that. Greed will destroy the strongest country on earth because of a lack of education and all that good stuff...that is why.
Because you can. Simply put from a utilitarian perspective the greatest good for the greatest number is to tax heavily on those whose quality of life will not be significantly impacted to help those on who it will have a significant impact.
Heavy taxation on someone earning $500 000 a year will have a much lesser negative impact on their life than the positive impact it will have on the many people (currently bout %15.5 of the population) who according to the federal gov can't afford food and or shelter.
Mathematically it is the moral and expedient option.
It's just not true that rich folks pay high percentages....they may pay a fairly high percentage initially, until they get to use all the loopholes that lower their tax burden, in some case, to lower then ten percent. As a self employed person, I pay 28% of my income to taxes, and I'm not 'rich'. Mitt Romney, who recently will not divulge his tax returns, did comment that he thinks' he payed at least 13% over the past few years. So what's wrong with that picture? An inequity that makes me just laugh at the rich Republican politicians (and Democrats) who quibble about MY taxes. I'm willing to pay my fair share, but so should they. We should all pay the same percentage. Period.
I don't believe the wealthy should pay more taxes. However, they should pay the same amount of taxes as everyone else, which currently isn't the case. Loop holes should be sewn shut so they don't get tax breaks, too.
I hardly agree, if a person is born poor then that is not his fault but if he dies poor then that is his fault and not others. And now answering to your question if rich should pay more taxes and accept a punishment for being active and skilled in life then this sounds much like communism to me.. If such altitude spreads into democratic nations like USA and India then only god may protect us from the wrath of radical revolutions, socialism and communism.
Reactionary fear mongering. There is nothing radical about taking a little more from the few people who have so much (and I include myself) and giving to those who need a hand.
I agree with giving on one's own interest its noble and good, but if an act of force is applied to achieve that then its not correct. You cant force me to donate, i should do it on my own interest. Development is not to be accomplished by begging.
I just wanted to thank you all for your input. You inspired the creation of my latest article, to thank you all.
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