Currently, the US has a progressive tax system where higher income earners pay a higher percentage tax rate on income. Recently proposed policy will increase even further the percentage paid by higher income earners. What do think? Would you feel differently if you where in a different (higher or lower) income tax bracket?
The complexity of the tax code in the US is difficult enough, and unless you are an ardent student of it, you will have the feeling of being left in a labyrinth. Most Americans struggle to even understand the codes that pertain to them never mind the larger picture of higher income brackets. Most Americans never pay attention to the updates that inevitably come out in January or February each year. Americans are just complacent, and lazy!! The wealthy fall into this category as well, delegating the responsibilities of tax obligations on to those they can afford to hire to do it for them. The redistribution of wealth through higher taxes on the rich and other methods is something that has gone on since the early Roman Empire. If it hasn’t worked since then, why would it work today?
Over the last 20 years the tax brackets have moved in the opposite directions, than are being proposed. Why in my opinion for the purpose of creating opportunity for the wealthiest to take advantage of stimulating the economy. This has worked in infusing capital through personal investment, and employment however it also contributed to the creation of a false bottom economy. Had forward thinking leadership been in place say 50 years ago when the difference between poverty and wealth was not what it is today…and a gradual increase in the taxation of personal wealth was instituted, I believe that we might not have the issues that we are having today.
To punish the wealthy for political capital with the poor is not the answer. I believe there is a sentiment in this country that is Robin Hood like, which goes like this “Steal from the rich to give to the poor.” I, however, although unsure of the what the actual policies needed to turn the country around think why in gods name would we create even more confusion with the tax laws… Don’t we have enough? Robbing from the rich never worked, robbing from the poor either… a balanced healthy economy relies on taxation that is fair and balanced depending on ones circumstance.
So, folks what do you think, or are you????
I feel as though wealthier people should pay more money when it comes to their taxes because they can afford it. I dont feel it would be a hardship for someone who is in a higher tax bracket compared to a low income individual where it would be a hardship for that individual to pay higher taxes. America is struggling with this tough economy if they higher the taxes for everyone Americans will be in an even harder struggle. This is why I believe weathly people should pay higher taxes!
I have mixed feeling about this. Of course citizen who have more money should pay more taxes. I also think that there is a big difference between hard working folks that might become millionaires and those with real wealth. People with Bill Gates money in my opinion should not exist. Why should someone possess so much money? There should be a salary cap on all professions including professional athletes. Since there isn’t, these are the people who should get hit the hardest for taxes.
“Your perspective is your reality.” I think it’s a fair redistribution of income in the U.S. The rich people pay higher amount of tax than the poor because they have more property and asset. I know some of them do work hard to get their money and they deserve to live in a luxury living standard. One way or another, they still should pay higher taxes. Poor people work hard,too. However, their income is still low. Paying high tax rate will kill them. It’s like taking away their bread while they have only half of the bread to eat. Unlike rich people, you take away half of their bread. They still have another half to at least survive. I am sure they won’t be happy, but that’s the reality of change. We hate to lose, especially money. However, the taxes have to be carefully used throughout the country otherwise it will be unfair for rich people to lose their money on something unnecessary or wasted on unwilling-but-capable-of-working people.
I definately support this new policy. High income earners can afford to pay this, so there shouldn’t be an issue. A person that earns a high income, and a person that earns a low income could equally be working hard.
However, I can see why those who don’t support this don’t. It’s a very opinionated question, obviously. People that make a higher income might have worked very hard to get to that point, so they might feel as though people with lower incomes should have wanted to be as successful.
In addition to this, there might be some people with lower income that might feel (for lack of any better words) disrespected, or insulted by this.
I don’t think a pregressive tax system enables a healthier economic situation for anyone. I think people who make money should have more control over it and don’t think the goverment should be controlling it. To do this I propose a very low fixed tax for all, this money will go to the goverment to hold incase of emergerncy and will only be used if the people agree it is needed. I think a salary cap of 1 million should be enforced. But the people who do earn more should continue to but that money should go to funding non profits. This way we will see money working much more efficiently and people who deserve money will still be able to see it working at the same time it is helping those in need.
Progressive tax makes sense but I’m not sure about the percentage increase. The increase could force companies and individuals to move money, skills (brain-drain) and labor elsewhere. More taxes could be placed on companies that use outside labor to counter the move. A salary cap (mentioned above) seems like its almost rights infringement. I feel that the only time salary should be adjusted by the government is when our tax dollars are used to keep them afloat. Sure they’ll get their money elsewhere but at least there is a policy in place that attempts to keep them in check.
I think it’s an extremely difficult sitution (as I’m sure everyone in the country does) to divy out taxes in a way that doesn’t make any one group go broke! Let’s face it though, higher earning tax payers can afford (not starve or not be able to provide for their families) to pay higher taxes. However, is it fair to them to be losing 50% or something ridiculous of their own hard earned money? That does not give them incentive to work does it? Instead… stop highering taxes, have the upper class create jobs rather than pay, and the economy should eventually boost itself a bit.
The issue of taxes will always be a sensitive subject. I feel that it makes the most sence that individuals that earn more pay a higher tax rate than those who earn minumum wage or less. Higher class earers can afford to pay higher taxes, so this makes sence but is it fair? Should families that can afford to send their children to private schools be paying taxes in order for those families who attend public schhols get a better education? It is a very sticky sitution, but for now I think this current tax rule is working and making as many people happy as it can.