Donald Trump, Mark Cuban, Warren Buffett, Bill Gates, Elon Musk, all names quite familiar as some of the richest men in the world, as we know all these men are billionaire, however this argument is not only prompted on billionaires it is also towards millionaires and corporate CEO’s, we could say the top 1%, as well as for this argument we will be talking about the US economy and tax percent instead of the one here in canada. What is the statement we are speaking towards? Some people believe that the wealthier 1% or in other words millionaires and billionaires should pay more taxes, In my opinion I believe the wealthy should pay the same amount they are paying. Which is 37% for people earning 500,000$+, and not to mention that 37% is only …show more content…
This is a very debated topic, you see it everywhere from the news channels, to youtube, and in the newspaper, people must be informed on the serious consequences that this could endure. Sure when the tough times comes and the US is in lots of dept they rely on these wealthy gentlemen and ladies to support it, however this does not mean that we should raise taxes considering if we do raise taxes it could be even more harmful for the economy because these brilliant men and women who work and create an empire could easily move countries if they are not satisfied, thus losing that companies income from the US. Second, if they did consider raising taxes large corporations would become terrified to what it could do to their profits which they worked so hard for thus reducing workforce and again harming the economy and the people of lesser wealth and their families, and finally, less money would be given to private charities, instead it would go to the government …show more content…
That brief summary of me is why I initially began with this topic on why the wealthier 1% and huge corporations should not pay more taxes, you work so hard for something in life and you aspire to be something great and you want that success appreciated and you don’t want it taken away from you. Of course I don’t think that you need billions of dollars and even hundreds of millions of dollars, and you certainly don't need that to be happy, cause if you do than their is a problem, but what I believe in is that money not power per say, however money something that can amplify a certain traits you have as a human being, if your a douchebag it’s just gonna make you more of douchebag , and if your a caring and giving person its gonna make you more of a caring and giving person. People stereotype the rich for making a lot of money, of course some some our corrupt and have done something wrong but even middle class men and women are corrupt people. Not only this people think the rich need to give the middle and lower class some money through the taxes, what they don’t realise is that the government takes the taxes, which in my opinion would be better off in the wealthier men and women’s hands because they could give it to their own charity and it would not
Sklar, Holly. “The Growing Gulf Between the Rich and the Rest of Us”. They Say I Say. Gerald Graff, Cathy Birkenstein, Russel Durst. New York: W. W. Norton & Company, 2009. Print.
By using the points listed previously, it is evident that a small portion of the population control what policies are implement in America and hold most of the nation’s wealth. I believe this two factors, the wealth one possesses and the amount of control an individual has, are interconnected. America has become a nation where money can get you anyway because it significantly increases the amount of opportunities available to the individual. Many people can attest to the presence of this class, including individuals from Kansas City who participated in a cross-section study with detailed interviews. The citizens of Kansas City referred to these people as “big rich” or “blue bloods” (pg
Should college athletes receive pay for what they do? You’ve probably seen this pop-up a million times, and thought about it. You’ve probably figured why should they? Aren’t they already receiving benefits from a full-ride scholarship? But then an athlete will get caught up in a scandal like Johnny Manziel, where he signed footballs for money.. then you think well why shouldn’t he receive that money? And you then contradict yourself. But shouldn’t they receive money from outside sources, and then the benefits from the school. Not get a salary from the school just the benefits they’re already receiving, and money from sponsors. Wouldn’t that make sense considering the money they’re making the school? According to an ESPN report Alabama University makes $123,769,841 in total revenue from sports. (College Athletics Revenue) Yes ONE HUNDRED & TWENTY THREE MILLION. Yet an athlete from Alabama can only receive benefits from a scholarship.. That doesn’t seem right. You would want to be payed when the opportunity arises. It should only be fair these players get a piece of the revenue pie, after all they are the ones creating the revenue. The players should be getting benefits to allow them to pay for basic college needs, grow up to be responsible adults, and allow the NCAA to thrive. This would allow for the NCAA to truly thrive as a sporting association.
...o charities and health centers. The government should look to possibly allow for taxpayers to decide what happens with their money. Again, if the country truly wants to cut the budget deficit, it starts with removing some of the middle class benefits for which the wealthy are already struggling to pay. To raise taxes on the rich will only stunt economic growth and cut jobs, which are two key components to having a prosperous country. Success and development within a nation strictly comes from the power and wealth of the economy and the integrity of earning and deserving what one puts in through hard work. The United States lives by the American Dream, and as long as this drives the majority of individuals, there is no logical reason to take more than what is necessary, especially from the ones who have taken advantage of the opportunity the best.
College athletes generate millions of dollars for their schools each year, yet they are not allowed to be compensated beyond a scholarship due to being considered amateurs. College athletes are some of the hardest working people in the nation, having to focus on both school courses and sports. Because athletics take so much time, these student-athletes are always busy. College football and basketball are multi-billion dollar businesses. The NCAA does not want to pay the athletes beyond scholarships, and it would be tough to work a new compensation program into the NCAA and university budgets. College athletes should be compensated in some form because they put in so much time and effort, generating huge amounts of revenue.
One person may see that the increase taxation on the poor and the decrease taxes on the wealthy is not an issue because the wealthy pay a lot of taxes already. However, many people don’t realize the fact that, yes, the wealthy are paying a lot of taxes because they make more money, but they can afford to pay more. Recently, in a CNN article, more than forty millionaires want their taxes to increase, which proves the fact that the wealthy have plenty of money to give back to the community. In addition, their just going to keep getting wealthier and wealthier by the
Inside of this video, this guy really targets an issue nobody has really been presented. He shows charts that talk about how we Americans think our wealth is distributed. We think distribution is doing alright. Americans think that the bottom 40% is getting a bit of money. They also believe that the middle class is doing reasonably well. Unfortunately, that is not the case. In the video, he breaks it down a little bit getter. He shows a graph that shows how money is actually being distributed. The poorest of poor don 't even register on the poverty line. The middle class is barely making it. And then there is this huge difference between "the rich" and the poor. It is proven that the 1% of America has 40% of the entire nation 's wealth ("Wealth Inequality in America."). The bottom 80% of America only share 7% of the nation 's wealth among themselves. The top 1% has 50% of the stocks, bonds, and mutual funds. The bottom 50% of Americans only own 0.5% ("Wealth Inequality in America."). The poor is not just getting by but they are scraping and fighting to get by. Now that it is clear that there is a lot of poor people in America, it is important to figure out how to fix
In the essay, “Of the 1%, by the 1%, for the 1%” by Joseph E. Stiglitz, Stiglitz criticizes the wealthy, and how the economy protects them. He talks about how the one percent of Americans that are wealthy own everything. The government has reduced taxes for those wealthy people, but not working Americans that are poor. The government is giving more money to the wealthy, while taking opportunities from the less-educated. Everyone in America is not equal in society. America has changed dramatically. America has went from a society that everyone worked hard to earn money to an economy that is predictable. The rich know they will stay rich and their legacy will continue. The poor knows their hard working and still struggling legacy will continue.
A question that has been rising to the surface lately is “should college athletes be paid a salary?” One cannot get on the internet now a day and not see some kind of college sport headline. The world of college sports has been changed greatly the past decade due to college athletes. These athletes make insurmountable amounts of money and an unbelievable amount of recognition for the universities. The athletes that provide and make a ton of revenue for the colleges also spend a huge amount of their time practicing and staying committed to sports, and have to maintain good grades in school which requires quite a bit of overtime. Because college athletes generate massive amounts of revenue and put in massive amounts of personal time for their individual universities, colleges need to financially compensate players for their contributions. The colleges that these superstars represent are reaping all of the benefits of the accomplishments the athletes have, yet the big named players are making nothing from what they do.
According to the Congressional Budget Office (CBO), in 2006, the top 20 percent of income earners paid almost 70 percent of all federal taxes. "There's been a huge myth created that the rich aren't paying anything, the rich pay a much higher rate than the poor” says William McBride, the Tax Foundation's chief economist (Sanandaji et al). The boom of the 1990’s was in fact not caused by Clinton’s idea to increase taxes on the top percent of American’s , but led by outside sources such as; massive reduction in military spending, the fall of the former Soviet Union, advancement in technology and manufacturing ultimately making workers more efficient, decline in oil costs, and no major wars. Many people interoperate Clinton’s high tax policy as finally making the wealthy pay their fair share and creating a more stable middle class. However, Clinton cannot be given full credit for this economic boom, and in fact many ignore the long term effects of his policy. America is built on a equality and ambition that should not be restrained by tax codes. Taxes should not be raised on the wealthy because the wealthy provide a majority of employment, they can invest their saving from taxes elsewhere, and they entitled to what they’ve earned ("Should the Wealthiest 1%”).
Inequality exist and is high in America because the amount of income and wealth that is distributed through power. In America the income distribution is very inequality and the value of a person wealth is based on their income with their debts subtracted. “As of 2007, the top 1% of households (the upper class) owned 34.6% of all privately held wealth, and the 19% (the managerial, professional, and small business stratum) had 50.5%, which means that just 20% of the people owned a remarkable 85%, leaving only 15% of the wealth for the bottom 80% (wage and salary workers)” (Domhoff, 2011). In contrary the poor do not get ahead and the rich get more. Americans are judged and placed in class categories through their home ownership which translates to wealth. Americans social class is often associated with their assets and wealth. “People seek to own property, to have high incomes, to have interesting and safe jobs, to enjoy the finest in travel and leisure, and to live long and healthy lives” (Domhoff, 2011). Power indicates how these “values” are not distributed equally in American society. Huge gains for the rich include cuts in capital gains and dividends and when tax rates decrease for the tiny percent of Americans income is redistributed. Taxes directly affect the wealth and income of Americans every year.
As a college sports fan on TV I see most athletes having a great time on the field, no matter if they win or lose, but I never really get to see how athletes are doing in their other significant parts of their life. I never get to see if they are struggling in school well because college life can be super stressful due to grades, financial reasons, or maybe even both. As of lately, many college athletes have become frustrated with the NCAA in its decision to not pay college athletes. Many college athletes deem that they need the extra money. One would expect that the NCAA would try to satisfy their athletes’ demands since they are the backbones of the organization, however, the NCAA has yet not done so. The NCAA feels that by paying college athletes it would ruin the balance of competition and the role of
Many of my thoughts throughout ethics have been towards the utilitarian side. This is where I would differ from that view. If I were to go by the utilitarian view it would be to tax the rich more than anyone. This money would then go to the poor where the money could be used up instead of sitting in a bank account. The utilitarian believes you do whatever it takes to make the most possible people happy. If you took the top five percent in America and taxed them more, then gave it to the bottom thirty percent, you have now helped more people then you did not help.
“Definition of indentured servant, you work for accommodations and food.” (Arian Foster, Get schooled Netflix documentary). This definition could also describe a college athlete. College athletes have been making the NCAA millions of dollars for decades. All the athletes want is money to help them get by in school, but because we are not paying them they leave for the pros as soon as they can. So now these kids are not getting the education they should, but instead are just trying to make money. College athletes deserve to be paid, if the NCAA is making money from their play. The NCAA is a trap for athletes to make colleges money, colleges don’t care enough for the individual athletes, and these athletes do so much for their colleges. These are just a few of many examples of how the NCAA is deceiving and using these athletes.
Income inequality continues to increase in today’s world, especially in the United States. Income inequality means the unequal distribution between individuals’ assets, wealth, or income. In the Twilight of the Elites, Christopher Hayes, a liberal journalist, states the inequality gap between the rich and the poor are increasing widening, and there need to have things done - tax the rich, provide better education - in order to shortening the inequality gap. America is a meritocratic country, which means that everybody has equal opportunity to be successful regardless of their class privileges or wealth. However, equality of opportunity does not equal equality of outcomes. People are having more opportunities to find a better job, but their incomes are a lot less compared to the top ten percent rich people. In this way, the poor people will never climb up the ladder to high status and become millionaires. Therefore, the government needs to increase all the tax rates on rich people in order to reduce income inequality.