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Should Rich People Pay Taxes Essay

840 Words4 Pages

There are 12 million millionaires in the world and only 2,325 billionaires. These people control 40% of world wealth. Their is no doubt that they are very successful and extremely wealthy.

But my question is, just because they have more Should we tax the rich more? All citizens must pay taxes But there is a difference between those who can't afford to pay for taxes and those who are able to afford to pay for taxes.

I heard a saying once where it said equality isn't always fair. You see, it would be an equal thing for the rich to pay the same taxes as everyone else but it wouldn't be fair. Millionaires have enough money to pay off their expenses and still have the luxury to spend on anything they want, but in contrast to the lower income people they don't have that …show more content…

They have money to spend ridiculous amount of money on simple things like straws and shoeless. Undoubtedly they are able to spend a little more to support the system.
The money that the rich people would be paying would go to social security health programs safety net programs defense and security, etc. If they would contribute to these programs, then the programs would help more people, but if they don't contribute to these programs, then it’s most likely that these programs are unable to help more people and more people are likely to stay in poverty.
One may also argue that raising taxes on the rich can have some negative effects like Raising taxes acts as a disincentive for individuals and businesses to make money. Some of the most talented people and businesses will leave the country and find somewhere with lower taxes, if they feel that their efforts are not being rewarded sufficiently. Which makes sense who wants to pay taxes at nevertheless pay for more taxes.
But Countries such as Australia, Sweden and Canada all do relatively well in terms of growth, despite them having high

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