TEXT: Application 7.8, p. 125

Analyze the following applicationin this manner:

First, express the problem or issue, using the guidelines explainedin this Chapter 7.

Then investigate, as necessary,and produce as many ideas as ayoucan to solve or resolve.

Finally, state which of your ideas you believe is best, and briefly explain why.

In recent years the idea of monetary profit has become controversial. Some people maintain that achieving financial success implies that one has taken advantage of others. (This notion was reinforced by President Obama's July 13, 2012, remark: "If you've got a business--you didn't build that. Somebody else made that happen"). This thinking leads many to conclude that financial profit should be heavily taxed. But others claim that such thinking is wrong. In their view, financially successful people should be appreciated because they create jobs and wealth for others.For that very reason, they argue, successful people should be taxed no more highly than others. Research this issue and decide which position is most reasonable.

Submit a1page paper that explains your position