|HubPages Device ID||This is used to identify particular browsers or devices when the access the service, and is used for security reasons.|
|Login||This is necessary to sign in to the HubPages Service.|
|HubPages Traffic Pixel||This is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.|
|Remarketing Pixels||We may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.|
|Conversion Tracking Pixels||We may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.|
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.
by ptosis11 months ago
federal income tax rates history, During the eight years of the Eisenhower presidency, from 1953 to 1961, the top marginal rate was 91 percent. (It was 92 percent the year he came into office.)What does it mean, though?...
by Jesusjohn782 years ago
Everyone hates the "rich" and I do not understand why. I was always under the impression the American dream was to become successful and stay successful? SO why are we always trying to punish the...
by Wesley Clark5 years ago
Do the rich have a moral obligation to pay higher taxes?Saw this question in an article today and thought...that's a great question, I should ask my fellow hubbers!
by Stacie L6 years ago
WASHINGTON (AP) — President Barack Obama is expected to seek a new base tax rate for the wealthy to ensure that millionaires pay at least at the same percentage as middle income taxpayers.A White House official said...
by GA Anderson2 years ago
Much is heard of a demand that corporations and the wealthy pay their "fair share" of taxes, but I have heard little of what that share should be.With only a single restriction; that the discussion is about...
by HuntersWhitt5 years ago
For the purposes of this discussion, let's assume that I am part of the 1%. What percentage of my income do you feel is my "fair share", and how did you come up with that number?
Copyright © 2018 HubPages Inc. and respective owners.
Other product and company names shown may be trademarks of their respective owners.
HubPages® is a registered Service Mark of HubPages, Inc.
HubPages and Hubbers (authors) may earn revenue on this page based on affiliate relationships and advertisements with partners including Amazon, Google, and others.