Every Americans pays taxes. Everybody workings pays federal payroll taxes. Everybody who buys gas pays state and federal gas taxes. Everybody who rents or owns a home indirectly or directly pays property taxes. Anybody who shops shells out sales taxes in a majority of states. However, today’s argument is about who should end up paying more taxes. There is a growing concern regarding the fundamental issue fairness.
The general public increasingly question whether a part of the population is making way with something by not paying a fair share of taxes (Galbraith 77). Given the troubling long-lasting economic outlook, there’s a sharp disagreement regarding whether the root source of the budget insufficiency is that taxes by the wealthy 1% is low generally, or the actual problem lies elsewhere.
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The rationally thinking citizen ought to know that after the introduction of these taxes, they virtually never disappear, and they ultimately hit everyone.
Finally, since the wealthy always modify their spending, work, investment, and tax behaviors in reaction to increases in rates, the revenue amount brought into the central government may essentially decrease. This is illustrated by an economic principle called the Laffer curve (Smith & Charles 127).
Dorling, Daniel, Richard G. Wilkinson, and Kate Pickett. Injustice: Why Social Inequality Persists. Bristol: Policy, 2011. Print.