Women's
rights have been at the forefront of US politics as of late due to a
controversial policy in President Obama's signature piece of legislation, the
Affordable Care Act. The controversy first exploded due to the Catholic
Church's opposition to the policy in which, under section 2713 of the
Affordable Care Act, employers would be required to cover the cost of
contraceptives along with other preventative care methods for women. The Catholic Church sites religious freedom
violations due to their long standing opposition of contraceptive use because
of dogmatic principle... Read More
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Monday, September 3, 2012
Monday, August 27, 2012
America’s Tax War: Principle or Necessity?
TurboTax Premier Fed + E-File + State Tax Year 2011 417416
The right
wing argument of “class warfare” in the US has been at the forefront of
American politics as of late. The
Democratic agenda to increase the tax rates on the upper-class has made the top
one percent of Americans cringe at the idea of having to pay tax rates
comparable to the middle and lower classes’ long standing tax burden of upwards
of 30%.. Since the average upper class
citizen pays a rate of less than 15% on an annual income of $1,000,000 or more,
the high rate of the lower and middle class’s 30-36% is seen by many Americans
as being an unfair and unbalanced financial burden. The question the general public seems to be
asking is why are the rich paying taxes at a rate that is less than half of what
the average income American pays?
President
Obama has teamed up with billionaire entrepreneur Warren Buffet to push through
a bill know as “The Buffet Rule” which will ultimately raise the tax margin on
the rich to equal that of the lower and middle income percentages. The idea is that by increasing these margins
the revenue increase to the country will help in the long and arduous process
of reducing the national deficit. The
middle and lower class voters agree with this bill on the principle that
because we are all in this country together and we are all responsible for
doing our part to help this country grow stronger then we all should pay our
fair share of taxes in order to do so.
They also feel that out of necessity the entire country’s tax revenue
burden should not rest solely on their shoulders. The need for lower tax rates lies with the
people who generate lower annual incomes and require the money in order to
survive.W-2C Continuous Tax Form, 100 FORMS/PK, 8606862-B, Use to correct
Some
wealthy Americans see this argument in a different light. They feel that out of capitalistic principle
the upper one percent of the country should not have to pay more for their
achievements than the lower classes. Their argument is that with a 36% rather
than their current 15% tax rate they would be paying a substantially larger
margin in taxes on their annual income than the rest of the country. This would only be counterproductive to job
growth because they would be more reluctant to hire new employees in order to
save money and continue to allow their companies to expand. They spend millions of dollars every year lobbying
congress to extend the Bush era tax cuts on the wealthiest Americans so that
they may increase their profit margins without fear of tax increases.
W-4 Tax Form 25 CARDS/PK, V2245-2012, Employee's Withholding
W-4 Tax Form 25 CARDS/PK, V2245-2012, Employee's Withholding
The
majority of Americans agree that there has got to be a compromise between the
upper and lower classes in this country.
The idea that we should all pay our fair share in taxes has been
demonized by the right as being an anti-capitalist or socialist philosophy. This in fact has been the right’s strongest
argument to date against raising taxes on the wealthy. This argument does not seem to be an
intelligent one though, rather it is aimed at the small percentage of
conservatives in this country who still fear a socialist democracy out of
ignorance of what that philosophy would truly mean for the vast majority of
American citizens. The Cold War era
fears of a communist takeover of the country have all but vanished leaving only
a small minority of individuals who still falsely believe that socialism is a
large step in the transition between a democracy and communism. So the question remains: Is there a
compromise that both sides of this debate can reach? Or, will the income gap
between the upper and lower classes continue to expand until there is no longer
a middle class? This country has not
seen this kind of class warfare since the Great Depression. What will be, if anything, our generation’s
New Deal?
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