How Does Taxing The Rich Help The Economy

Countries such as australia sweden and canada all do well in terms of economic growth despite them having high taxes. But what is taxes and how much is the question.

Would Raising Taxes On The Rich Help Or Hurt The Economy

how does taxing the rich help the economy

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There has to be taxes to pay for basic service that the govt is supposed to provide such as common defense.

How does taxing the rich help the economy. In theory the well meaning politicians thought that rich people would just simply pay more for their fancy toys. Taxing investment income at a much lower rate than salaries and wages are taxed loses 13 trillion over 10 years. Taxing the rich can also be justified on moral grounds if it is used as a form of wealth redistribution with the tax money raised being used to aid the poorest sections of the population.

Tax cuts for the rich put relatively little back in the economy compared to tax cuts for middle class or poor people even though as advocates of tax cuts for the rich are usually quick to point. Most people that are wealth got their from starting and running a business or investing in. Taxation is necessary in order to provide public services like roads education and health care.

Taxing the wealthy promotes economic growth. Ceos of major corporations earn nearly 300 times more than an average worker. When asked about the potential negatives of raising taxes on anyone president obama usually just answers that the matter is about fairness.

Most economists conclude based on empirical studies that large increases in deficits reduce national saving meaning less capital would be available for investment in the economy and interest rates would rise. The motivation behind the tax was to bilk the rich to reduce the national deficit with targeted taxes. But as the worlds elderly population grows and the demand.

Tax cuts for the rich are likely to hurt growth if they increase deficits or are paired with cuts to investments that help working families and the economy. On the surface this seemed pretty straightforwardtax the excess of the rich to raise money and spare the middle class. Or we can restore an economy where everyone gets a fair shot everyone does their fair share and everyone plays by the same set of rules no doubt the long term trend toward income inequality is a major flaw of the capitalist system.

Its generally accepted that raising taxes on the rich would do little to reduce deficits close funding gaps or help the economy. Taxing the rich wont help the poor. Its time to do away with the myth that taxing the wealthy always reduces our economic.

1470 households reported income of more than 1 million in 2009 but paid zero federal income taxes on it. The help of society and.

Raising Taxes On Rich Seen As Good For Economy Fairness