Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

From this Summary Response, what is the best thesis statement to put into introduction to introduce the response section (which is the paragraph 2) The

From this Summary Response, what is the best thesis statement to put into introduction to introduce the response section (which is the paragraph 2)

The article "Opinion: Tax the rich more? "Not So Fast," by Scott A. Hodge, was featured in U.S. News & World Report and looks into the idea that rich people should pay more taxes, which federal government leaders have brought up. The author's main point is to focus on charging the rich more heavily, and they believe the focus should be on creating a fair and effective tax system that encourages economic growth and business. It presents arguments in opposition to why raising taxes on the rich is not a good idea. The author also points out the likely problems with this plan against the reasons given by people who want to raise taxes on the rich. The author intends to question the idea that taxing the rich is the way to fix economic inequality and give a different point of view. Moreover, he thinks the problem needs to be solved with a broader approach focusing on changing the tax system instead of just going after the rich. We shouldn't let bad things occur that could happen if the rich are taxed more, and there are other ways to deal with imbalance.

No one can agree on a progressive tax system because everyone has a different idea of a "fair share" is. Every politician in Washington, D.C., and especially every lawmaker who writes tax laws, has an idea of what that means. In the twenty-first century, America is essentially set up to help us earn money. Our economy, government, and tax system give people with a lot of money a significant edge over those in the middle and lower classes. Consequently, inequality in America has gotten a lot worse, making the gap between the rich and the rest of the people even bigger. This problem will only worsen if the government does nothing.

Anecdotally, I can offer how this works for people like me. While working at the casino for years, one of the biggest management companies in Illinois, I have seen how our system gives people like me huge advantages. Reforming taxes is the fastest and most practical way. If we want to fix our country, we must tax the rich. According to their income and wealth, America's millionaires and billionaires have been paying less taxes for decades than even most middle-class Americans do. Raising taxes on the wealthy can and should require demands even more of the extremely wealthy, but it can begin by ensuring that they at least follow the same rules as regular working Americans. Rich people do not pay that many taxes because they create more employment for the people, and they have to endure losses.

On the other hand, the job depends on a payroll basis. For instance, people who work for a living should pay a lower tax rate than those who invest their money and then sit around earning a passive income. However, that is not how our tax code operates. The highest income tax rate that most American workers pay is much higher than the highest capital gains tax rate, which people pay on investment income. As a result, investing, which requires starting with money one already has, is far more profitable than working to earn the same amount through employment.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Thesis Statement In Not So Fast Scott A Hodge c... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Reporting and Analysis

Authors: Flawrence Revsine, Daniel Collins, Bruce, Mittelstaedt, Leon

6th edition

9780077632182, 78025672, 77632184, 978-0078025679

More Books

Students also viewed these Economics questions