8th Grade AMH September 8, 2011 · 1:59 pm We the 8th grade American HIstory class of CFCA feel that richer people should not have to pay more taxes. We took a poll and 25% said they should have to pay more taxes, 72% said they shouldn’t, while 3% were undecided. It is unfair for rich people to have to work harder and get less.
Warren E. Buffet offers a fresh and rare opinion in his article, that rich people should in fact pay more taxes, rather than continuing being benefited by their ‘friends in high places’. Given the great amount of figures stated in the article, and the fact that I am only in the first month of my Macroeconomics course, The first thing I tried to do was understand those numbers. In my investigation through the government IRS website, and many articles voicing their opinions on the matter I found various evidence that proves what Buffet says, that the middle class is suffering the most due to deficit overspending and debt, especially through the recent idea that the author seems to reject, the tax cuts for the higher classes. The idea behind this, according to a NYTimes article, is that by cutting taxes, richer families will be less affected by taxes and might therefore find themselves in a better spirit to help stimulate the national economy. Buffet counters this by saying that, at least him and his ‘mega-rich’ buddies are not moved in the least by tax rates when going into businesses or when faced with the opportunity to help their country financially. Visiting the Giving Pledge, which he mentions in the article, there are 62 of the most prominent families in the United States, including our Warren E. Buffet and Facebook’s Mark Zuckerberg, pledging to give the majority of their wealth to philanthropy in a moral commitment. This might be done out of good-heartedness, or for ulterior motives, but it definitely shows that these higher classes already give much of their money to help the country, and that they might, in fact, not mind giving it in terms of higher taxes. There are various solutions suggested for this project of deficit cutbacks, but according to a survey conducted by the National Association for Business Economics in August this year, the greatest solution supported by 250 economists were a) contained healthcare costs in Medicare and Medicaid and b) reformed, increased taxing. The first option, however would do the same harm to lower classes as are happening today, because cutting back resources for public healthcare, mainly utilized by these lower classes, would leave more than half a country with a slightly stable income, but no attainable options for medicinal emergencies. The second option seems to show no disadvantages, especially when there are such eager subjects as Buffet and his ‘mega-rich friends’. As said before, Congress is in the process of establishing a solution for this financial crisis, but I think more outspoken figures like Warren E. Buffet will quickly push a plan like this into action. I for one, would love to see members of the community, especially privileged ones, so open to helping. I would have not very easily thought that such characters would be possible but Buffet’s actions of reaching out to post an article about it in the New York Times seem to, gratefully, prove me wrong. I see a prominent future with people as good as exemplified here.
Commenter: ThrasherKudos to Dr. Johnathon Ross! “Why is there no discussion of single payer improved Medicare for all?” That says it all. Why wasn’t simply expanding Medicare to cover everyone proposed? I guess it is TOO simple and, horrors, would give the insurance lobby little to attack!
In Germany and France, wealthy citizens are petitioning their governments to tax them more; some are positioning themselves as Buffett’s ideological cousins. In Italy, Luca di Montezemolo, the chairman of Ferrari, recently said in essence that the rich – the same people who can afford to buy his cars – can afford higher taxes and should pay them.
Kelly C. August 19, 2011 · 8:41 am I Dont think they should have to pay more because its not fair. If you were rich would you want to pay more? I Think they should only pay if they wanted because it would be good if they put in more money,but only if they would like to.
Unless Republicans want to cut Social Security, Medicare, and defense, that is. Even if Republicans eliminated everything else in the federal budget – from education to Meals on Wheels – they wouldn’t have nearly enough to pay for tax cuts of the magnitude Republicans are now touting.
For the first time, however, the folksy tale of his receptionist has caught fire, eliciting a strong endorsement from the Oval Office and cries of class warfare from congressional Republicans. Forget Joe the Plumber. Warren Buffett’s secretary is the new working-class hero of the Great Recession.
Mr. Buffett gives an initiative in his article that follows the ideology of a populist politician. Especially, in times of recession, when the gap between rich and poor widens, such ideologies strengthen. Still, charging the millionaires more for their wealth in times of economic hardship might not be the right decision to take. If the government were to raise taxes, it would be effectively reducing investment and increasing spending. Due to this, the long terms benefits of investment that usually ensure long-term growth, would be hindered. Especially in politics, we hear morality infiltrating economic arguments. Specifically, the most common argument is: “(…) the poor and the middle class, who need every break they can get”. Similar ideas recur in times of crisis in places ranging from articles to presidential speeches. This kind welfarism can cause unexpected and undesired results. Taking into consideration the large percentage of the money spent by American consumers on imported goods, any break or stimulus would simply stimulate other economies. On the other hand, encouraging those rich people to invest in the United States would be the right kind policy to stimulate not only growth but also the creation of Jobs. Instead of improving the safety nets for those that are unable to benefit from the economy, we should try to ensure as few people as possible need them. Ultimately, in the debt debates that brought the country to brink of default, we saw the Tea Party defend the no taxation policy feverously, almost, fanatically. Such lack of pragmatism could only serve political goals. I do believe some taxation on the wealthy is necessary to reduce the debt without an exaggerated burden on the middle and lower classes. Still, such policies that follow an outdated welfare state should be avoided whenever possible.
New York — Brennan McFarlane had never been to a protest before. On Sept. 17, the former Navy seaman from Mahwah, N.J., packed his rucksack with sheets and a blanket, unsure if he’d return home that night. Then he rode the train into Manhattan’s financial district.
How would you feel about becoming poor and not being able to get a job? I’m sure I would hate that. The poor come from low income families most of the time or else the families would help them. I think people with the income of $80,000 a year, that’s what I think
I think that rich people should not pay more in taxes. We all should pay the same amount of taxes. Why should a rich person that studied hard in university and payed his or her loan pay more? Those “rich” people sometimes work even longer hours than those who are “poor”. If you go to downtown you will see that those who get food stamps don’t work.They just walk on the streets and hand around. They don’t care about anything. They think the government will provide everything for them.They have no reason to work. They will get free food, free education and free medication. Over the summer I volunteered at a Food Pantry, and the thing that I found out is that those ”poor” people have iPhones, drive BMWs, and have no job. I asked one of the rich visitors how can she get food stamps, drive an expensive car, and use one of the most expensive phones offered and have no job. What she told me was ”Honey, when you work, you have to pay taxes, but since I don’t have a job, I don’t pay any taxes. I have time for myself. Sometimes I get a cash job, and there is no way government will find that out.” Also, when I was packing food for the ”poor” I realized that they are getting ORGANIC food. I was shocked. Not every person who actually works can afford ORGANIC food. I think that if you are hungry and poor you won’t even care about if food is organic or not. Another thing is that when those people don’t get organic food, they get so mad and frustrated that they will throw those inorganic foods at you and scream ”Why am I getting this bad food?!?” For these reasons I don’t think that rich people should pay more taxes. We all should pay an equal amount of money. Why should a rich person pay for my kid’s education, food, and clothes? If I gave birth to those kids it is my responsibility to provide everything they need. This country should stop giving out free stuff and make everyone get a job and finally start paying taxes, instead of sitting at home, watching tv and waiting for the government to provide everything!
(Original post by So Instinct) Nah, imagine earning 60k and only taking 30k home give or take. Daylight robbery. I’ve only really begun to appreciate this after recently obtaining an actual salary. Not to mention while it sounds great on paper it doesn’t seem to improve the distribution of wealth, at least nothing that is significantly felt- now if some of it was say going to subsidise an increase in national wage then yes I’d be all for it (hypothetically speaking, I’m not saying that would be a sustainable policy). Though I suppose you could argue that you don’t know how significant it is until you lose it. Ideally the aim should be to have more people on higher income brackets then to simply raise the levels of certain brackets. It’s like when people complain that train drivers make so much money, but really they’re only doing that because they’re bitter they don’t make anywhere near that or feel the benefits of a decent union. If they too had those privileges I’m sure they would be whistling a different tune.
If the rich doesn’t give taxes, than the other peoples will need to fill that. And richs get the money from society, so they need to turn them back to the society. Finally, this can increase the taxes and that can go to the public welfare and sharing with others.