Wednesday, November 30, 2011

Increase Taxes for Rich People or Not?

As demonstrated in lecture, income inequality has been rising since 1970, and the average income for the top one percent of Americans has risen almost seven times faster than the income of the average middle class family. America is no longer the best place in the world to be middle class. Today, we can hear the voice from some rich men such as Douglas Edwards who want the U.S. government to raise his taxes. I agree with them that rich people have responsibility as Americans to help our country decrease the income inequality and out of recession. The lecture also taught that government can use tax policy to alter the distribution of income. However, why Congress does not support expiration of the George W. Bush tax cuts for wealthy individuals?
http://content.usatoday.com/communities/theoval/post/2011/09/rich-man-to-obama-please-raise-my-taxes-/1

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