Big corporations and the wealth should be taxed more. The top 1 percent pay less than 1.2% on federal taxes while the working which includes the middle and lower class pay up to 15% on taxes. It is estimated that trump will add an additional $10 trillion to the nation debt. According to newsweek“ Senate Republicans have agreed to cut taxes by $1.5 trillion over the next decade, which means giant budget deficits.” In doing this, they will have to cut either; social security, Medicare or defense. Even if everything in the federal budget was estimated for, they still wouldn’t have nearly enough money for tax cuts that are being planned currently. According Robert Reich, Big corporations and the wealth should be taxed more and in doing this, the nation’s wealth will be back up, the national debt would decrease and this would put money back in the economy, also this would help put American back to work.
In order to stabilize our nation’s and many economic issues such as poverty, higher education, minimum wage and decreasing the tax gap, big corporations and the wealth need to be taxed more. It is unfair for the lower classes to pay such high rates in taxes when they are unable to lose any money because they have to be able to pay for tuition, put food on the table, take care of their families and themselves, provide transportation and much more.
Tax inequality has been a issue for many years. with the imbalance of the rich paying less and the middle class having to pay more. There has been many discussion on whether that may change or not. I know with the new presidential office in today has managed to reform that balance to make it become more of a equilibrium balance.Trump is attempting to make taxes balanced out between the classes. Most people believed that yes taxes between the rich and poor needed to change and that to do this, we should be able to tax big corporations and the wealth at a fair amount instead of leaving all the taxes to be handled by the working class.
Growing up I have seen friend, family members and even my parents struggle because of the economy and how unfair it is. I have noticed that everything was hard to get and at times, being able to provide for one’s family made them go in debt. I don’t believe that college students should have to work two jobs and still be unable to come up with the money to; buy food, provide transportation, pay for tuition, entertainment, social activities and books. I have noticed that the wealth and big corporation pay less tax than those that are poor and to me this does not make sense to me. I have seen friends drop out of school because they cant afford it.
We the people have much power when we come together. We can write letter to our representatives and let them know how we feel about the current statues que. The public opinion has a lot of power, all we have to do is express how we feel about an issue and our voices will be heard. If we don’t act now and continue to let this issue drag out. Our national debt will continue to rise, businesses in America will lose money, we won’t be putting families that need jobs to work, and most importantly, we will not have higher education opportunities. Educations is linked with poverty because those that are not able to afford it give up sooner in trying to pursue a career which leads us to not having people in certain fields.
Reich, Robert. “Robert Reich: Why the Rich and Corporations Should Pay More Tax.” Newsweek, 25 Sept. 2017, www.newsweek.com/robert-reich-why-rich-and-corporations-should-pay-more-tax-670465.