Question

Should our government take money from the rich and give it to the poor? If so, why, how, and how much should they? (When possible, cite data from your textbook, the web, or from one of your classmate's posts about the degree and/or trend in income and/or wealth inequality, the distribution of taxes paid, or other relevant factors to support your post.)

Answer 1

Taking money from rich to give it to poor is unjustifiable. It’s totally unfair to do that. It is not possible to do that directly. However government can limit the income sources for the rich and do the opposite for the poor.

In a way, the process is already happening in financial markets. 12% of the borrowers in financial markets who are poor are borrowing from the rich who have extra money available for investments. This relation between rich and poor is however vague. It does not talk about the poor below poverty line.

The government collects high income and wealth taxes from rich and spends a proportion of that revenue for generating schemes for poor. In a way, this is taking money from rich for giving it to poor but this is rightful and justifiable. It is because the rich people have used economy’s resources (education, employment etc) to be at that level and it is their duty to pay the economy back for better. I say it depends on the context whether this process is right or wrong.