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Home » Mad Musings, Money Matters

Should We Increase Taxes on the Rich

Submitted by on August 28, 2011 – 4:40 pm No Comment
who-pays-tax1

Click for larger graphic

The Government is on a desperate search to put as many shekels as it can in it’s coffer. Is raising taxes on the rich the answer?

Most people don’t think so. AP conducted a poll to find out what the best solution was for the deficit problem. 62% think the government should cut spending. Only 20% think the solution is tax hikes. Also, in a recent Investor Business Daily poll, 92% of Americans think it’s important to cut government spending. If we want to put something away for our future or start saving money for a house, we have to make changes to our spending.  Shouldn’t the government do the same?  Many of think they should.

But “we” might be wrong. Maybe “we” just don’t understand. Let’s take a look at the numbers to determine what the best course of action might be.

Continue reading by clicking source link below…

Source: WealthPilgrim

My Comments:
Another conflicting topic for me.  50% of the population pays almost 100% of the taxes seems somewhat unfair, but there are many ways to cut this cookie, and while I have quite a bit to say on that, I won’t go into it here.  I think the government isn’t particularly doing a good job with the cash it takes from us, and while a large percent of taxes the overall taxes collected comes from the top 1%, believe, they are barely feeling it; as all indicators show that the gulf between the rich and poor is growing ever wider.

 

 

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