Question

PARIS (Reuters) – According to a survey conducted for the Organization for Economic and Cooperation and Development (“OECD1 ”) there is broad support for building up the welfare state in most countries, and a strong majority of people in wealthy countries want to tax the “rich” to fund an increase in government programs targeted at helping the less fortunate. In all of the 21 countries surveyed, more than half of the people polled said they were in favor when asked:

“Should the government tax the rich more?”

Higher taxation of the “rich” has emerged as a political lightning rod in many wealthy countries, with U.S Democratic hopefuls proposing hikes and “yellow vest” protesters in France demanding that the wealthy bear a bigger share of the tax burden. Support was highest in Portugal and Greece, both emerging from years of economic crisis.

Assume I am your Representative in Congress, draft a “business style” memo either (a) in support of or (b) against higher marginal tax rates for the wealthiest Americans.

Answer 1

PART. NO:- Of As for I concerned I am in support of higher marginal tax rates for the wealthiest Americans. Following are the some points that justifying my views (1) When economy of any country are in crisis, the governme needs to increase their revenues that brings more money the hand of the government. And it makes sense to dax the wealthy or rich clase as they are the only one who afford or can paid the higher tax. This tax system of taxing rich reduced the income discrepancies in the society and maintain ancome balance between rich and poor , income discrepancies increased the risk of social instability like increase erimes. Many economist believed that income discrepancies (1) St the factors that led to the Wall Street Crash in 1929, (1) It is also best way of wealth redistribution from the rich to the poor. The tax money collected from the rich used in public welfare mainly for poor welfare After 1960s, the income of rich society was increased with increasing rate and others income of other class of society basely moves it means that taxing wealhulest as the need of a one the time. (in) Many programmes like health education social security, etc. need somoney and it has to come from some where . Thanks SHAH FAIZAN AHMAD