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Widening The Gap Between The Lower Class And The Upper Class

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Income Tax is one of major ways that government earns money, and the upper class is the main sourse of income taxes. Rich people should pay more taxes to take their social responsibilities due to the massive wealth they possesses. However, some people think that it is unfair for the rich people since every citizen should take the equal shares of the socil responsibility. On the contrary, the more wealth one individual possesses from the society, the more social responsibility one individual should take. Also, the higher income taxes for the rich ensures that the government has more capitals to develop the country’s economy and deal with economic crisis. The large diffence of the taxes between the lower class and the upper class is to even out the gap between these two classes. …show more content…

The large proportion of the taxes are paid by the rich people. The government will get more funds to prevent or stop economic issues if rcih people pay more taxes. For example, during the Great Depression, Nationalist Government in China played an important role and put many resources to stop the Great Depression such as implementing a new legal currency (Zhang, 2011). With the more taxes paid by the upper class, the government is able to invest more money to develop the whole country. The government has the responsibility to develop many fields of the country such as technology, social welfare, and economy. The government will be more flexible to invest money into more fields if rich people take more social responsibility by paying more taxes. However, how to make sure that the government puts that money into a good use is a problem. The government has to be clear and honest on their expenses, or the extra taxes paid by the rich will become

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When the government spends, there is more money flowing through the economy. The last chart shows the share of taxes that the top 1 percent contributes to our economy. The tax shares of the top 1 percent are around 20 percent. While the top 1 percent earns about 40 percent of the nation’s wealth, they’re only contributing 20 percent of what they’re earning back into the economy. This information is relevant because the share of taxes for the top 1 percent is not proportional considering the amount they’re earning.

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In an article “Stop Coddling the Super-Rich”, by Warren Buffet, he suggests the mega rich should be taxed more than the middle and lower class, but again, they have more deductions and will still pay

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The income tax would try to even the playing field, so the rich would have to pay higher taxes while the poor pay smaller taxes. Also, the income tax would serve as payment for the government so in turn they can pay for different areas of

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Government plays a large part in the limitations of the lower and middle classes ability to succeed. In the movie “Inequality for All” directed by Jacob Kornbluth it is stated “Government sets the rules on how the market is structured”. Government funding can affect the economy and the success of the levels of the different classes. This is evidenced by the middle classes larger income equality that was seen in the 1940’s through 1970’s. During this period the government was investing in educating and as a result you saw increased prosperity of the middle class.

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Also, the wealthy is known to be rich, so as they collect more and more taxes, they will spend it on stuff we don't need; instead of paying it on taxes. For

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“The Federal tax system has always served purposes beyond the collection of revenue to fund Government programs” (Farrigan). The people of the United States pay taxes to the government to multiply the money by doing business related negotiations with other countries. In addition, the government uses the peoples tax money in programs such as Medicaid or children’s health insurance, food stamps, and unemployment benefits. Consequently, the government gives back the people’s tax money, but because of the people the government can support, give, and help the people in need. The government multiplies the peoples tax money and since the people are investing their tax money than is only right the people get a beneficial raise on their tax return money.

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The problem with the widened wealth gap is that the inequality may harm the quality. Meaning that those in the higher classes see it as you can use the money with no restrictions. However, economist believe that the “relationship between inequality and economic freedom, with the possibility that policies that are meant to reduce inequality will reduce economic freedom, which will then only make inequality worse.”

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The federal tax system is plagued with issues: It doesn 't raise sufficient revenue to back government spending, it is unpredictable, it makes results that are unreasonable, and it impedes monetary productivity. This part examines a few approaches to enhance charges, including making an esteem included duty, expanding natural taxes, improving the corporate expense, treating low-and center pay workers evenhandedly and productively, and guaranteeing suitable tax collection of high-wage family units. A good tax system raises the incomes expected to fund government spending in a way that is as basic, evenhanded, and development well growth as could reasonably be expected. The United States does not have a good tax system.

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