Persuasive Essay On Taxes In America

Taxation is a widely controversial subject in the United States today. Currently during the election process, America is at a crossroads with how they are going to tax the rich. Bernie Sanders, a democratic presidential candidate, has spoken out saying that he would have similar tax rates as the United States in the 1950’s when the top tax bracket was being taxed over 90 percent under Dwight D. Eisenhower. In contradiction, the Republican nominee, Donald Trump, does not believe that the rich should be taxed extremely high rates as he comes from an extremely wealthy background. As the election heats up, taxation is a very important thing to weigh up when voting. Many billionaires such as Bill Gates and Warren Buffett have come out to support the raising of the tax

The Government need a new tax reform system. With the Government spending so radical, the tax rates need to be increased on the rich to help fund the spending and help the U.S get out of 17.8 trillion dollars in debt. The skyrocketing national debt, compounded with the unsustainable federal deficits, have the potential to topple the U.S. and world economy if more isn't done soon. The middle class is disappearing in this country is disappearing. The top 1% of America has over 40% of all the nation’s wealth with the top 80% only making 8% of the total nation’s wealth. Such wealth discrepancy in this country is unacceptable. It takes 400 people from the top 80 percent to make what one person makes from the top one percent. Despite this, people still believe that people in the middle class should be similarly taxed than the top 1%. When the tax rates were at the high rates of 90% in the 1950’s and the early 1960’s the stock market and the American economy was booming. Let’s raise the tax rates on the rich and let’s make America the economic powerhouse of the world it once