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The history of taxes in the united states
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The Presidential debate between secretary of state Hillary Clinton and Donald Trump was very intense. It showed to voters where each candidate stands and their plans for the country when it comes to our well-being, financial situations, security, and more specifically the nation’s future. Hillary Clinton believes that good jobs in the United States will develop a fair economy. But to build that economy, the national minimum taxes will have to be raised on the wealthy to support the middle class population, especially the struggling families trying to balance work and their households on low incomes and having tax deducted from their already minimal paycheck, adds onto their everyday stress. A tax system that will reward work and not just economics, and investments, “Trump Loophole”, which is Donald Trump’s plan of reducing tax will be the most extreme tax cut of the United States. The more that is invested in the middle class will increase the growth percentage of the economy. She also stated that it is part of her plans to create “…strong growth, fair growth, sustained growth…” …show more content…
Whereas Donald Trump believes that lowering taxes on the wealthy and the middle class from 35% to 15%, precisely the wealthy, will help keep the jobs in the country, “it will be a job creator” as he states.
With the tax lowered, the companies will be able to build and expand, new companies will also start creating millions of new jobs which in turn will balance the economy. His method of cutting regulations and taxes will also revive certain businesses. He also stated that companies who still wants to leave the country will have to pay tax upon their reestablishment. Because they are not being taxed upon arrival, makes the country an open gate for debts and without them the economy will continue to
sink. After watching this debate, I was very disappointed with Donald Trump’s answers. He came off too strong, very aggressive and forceful, and projected a stance of someone ready to pounce. The economy is one of the population’s main concern and weakness, so it is normal on my part to expect much more out of a candidate, but he simply continued to repeat the same things about how other countries such as China and Mexico are preying on the United States in order to rebuild their country, but as he said to Hillary Clinton, “it is business.” This country needs someone who is able to keep a calm composure when being pressured, who can actually comprehend what the government is all about, and also can understand that the government is all about money, and that there is no such thing as “inferiority or superiority” because at the end of the day we’re all are equal. Clinton has beneficial plans, ones that can be verified only when put into action. Each candidates agreed and disagreed upon majority of issues which proves that they are different people who differ in opinions, it is up to the voters to make sure that the country falls in capable hands.
The gap in wealth between the rich and the poor continues to grow larger, as productivity increases but wages remain the same. There were changes in the tax structure that gave the wealthy tax breaks, such as only taxing for social security within the first $113,700 of income in a year. For CEOs this tax was paid off almost immediately. Free trade treaties broke barriers to trade and resulted in outsourcing and lower wages for workers. In “Job on the Line” by William Adler, a worker named Mollie James lost her job when the factory moved to Mexico. “The job in which Mollie James once took great pride, the job that both fostered and repaid her loyalty by enabling her to rise above humble beginnings and provide for her family – that job does not now pay Balbina Duque a wage sufficient to live on” (489). When Balbina started working she was only making 65 cents an hour. Another huge issue lies in the minimum wage. In 2007, the minimum wage was only 51% of the living wage in America. How can a person live 51% of a life? Especially when cuts were being made in anti-poverty and welfare programs that were intended to get people on their feet. Now, it seems that the system keeps people down, as they try to earn more but their benefits are taken away faster than they can earn. Even when workers tried to get together to help themselves they were thrown
David J Lynch says that, “ [s]ocieties that manage a narrower gap between rich and poor enjoy longer economic expansions”, however, in the United States the gap between the have and have-nots has widened (source C). “This country is just getting worse and worse and worse … and that is not a recipe for stable growth” (source C). If we do not do something soon our capitalist country will fall. In order for the income inequality gap to lessen to create a more stable economy the government must invest in education and unionize workers and not provide higher taxation for the top one percent.
In the U. S today, the approximated population of undocumented immigrants stands at averagely 11 million. Therefore, this has created a hot debate in Congress about the action to take over the undocumented immigrants. Those opposed to illegal immigrants suggest that, their stay in the United States effects U.S citizens on the job market negatively . In addition, illegal immigrants are viewed in certain quarters as takers in the sense that illegal immigrants benefit more from public resources than the american-born citizens of the U.S. However, the reality is that immigrants contribute positively to the U.S economy and pay significantly into the system compared to what they send back home. In addition, the contributions associated with undocumented immigrants involve sustaining the solvency of the SSTF (Social Security Trust Fund). In this sense, the use of cost benefit analysis by those supporting immigration restrictions are unfounded and do not reflect the facts on the ground (Nadadur 1037). The opponents of undocumented immigrants believe that having more undocumented immigrants in the U.S is costly; however, there are no solid reasons to prove that undocumented immigrants are a burden to the treasury. Instead, the undocumented immigrants play an important role in boosting the economy and in particular by taking up jobs those citizens perceive as demeaning because the money they earn goes back to the economy through taxes resulting from consumer spending when they send money back home.
The presidential election in year 2016 has been described as both outrageous and strange. Media from all over the world has covered every debate and the reactions at the outcome have been apparent in almost every country. The choice between businessman Donald Trump, the Republican candidate, and former secretary of state Hillary Clinton, the Democratic candidate, has caused several politicians and notable people to publically endorse their personal favorite - both on social media or at formal political gatherings. An example of the latter is Michelle Obama’s speech “Remarks by the First Lady” at the 2016 Democratic National Convention.
Based on the performance and content of the presidential debate, Hillary Clinton emerged the winner. A debate is a typical adversarial argument, which is characterized by competition. There is one winner and one loser. The argument revolves around two people who have different or opposite ways of thinking, argue the same topic. The arguer is intent on changing the other’s beliefs. Further, the arguer usually tries to refute the opponent by showing or invalidating the opponent’s viewpoints. In this first presidential debate, Donald Trump and Hillary Clinton stated their claims and provided supporting facts to prove each is the better candidate for president. Both Donald and Hillary set out to sway more people to “their side” as choice for president of the United States.
...fort to increase equality and help the poor is laudable. However, the livable wage presents a dangerous precedent in social reform because it is an anti-business policy which is caused from limiting free market capitalism. The livable wage tells companies what they must pay their employees, and the costs of the mandated wages are often many times higher than the federal Mininum wage. This regulation is unnecessary and hurts American business which then hurts the economy as a whole. Instead of a social reform that goes against business, politicians should use reforms that do not have unintended costs on business like lowering the taxes of low income families. Instead of a social reform that goes against the American ethos of supporting business, a policy lowering taxes for would be more efficient in helping low income families. All social policies must be examined carefully for their effects on business because of the importance of businesses in the welfare of the economy.
One person may see that the increase taxation on the poor and the decrease taxes on the wealthy is not an issue because the wealthy pay a lot of taxes already. However, many people don’t realize the fact that, yes, the wealthy are paying a lot of taxes because they make more money, but they can afford to pay more. Recently, in a CNN article, more than forty millionaires want their taxes to increase, which proves the fact that the wealthy have plenty of money to give back to the community. In addition, their just going to keep getting wealthier and wealthier by the
Krugman points out how despite the obvious and ever growing gap between the rich and middle class in terms of wealth increase, Republicans tend to vote for tax cuts for the rich and for decreases in funding for programs that benefit the middle and lower classes of society, such as Social Security, Medicare, and Medicaid. Cutting funds for these services puts the middle and lower classes at even more of a disadvantage than they already were. Meanwhile, the rich receiving more tax cuts means they receive more money, furthering the economic wealth gap and increasing the money they can spend to influence politics. Krugman suggests the solution to the problem is increasing taxes on the
Rhetorical Analysis Presidential Debate Clinton and Trump The presidential debate was an event where most of the population not only of United Stated of America but the whole world was waiting anxiously for. The first of the three presidential debates was developed in Hofstra University, Hempstead, NY. The first debate drew a record of the audience being one of the most watched debated in the history of United States of America.
America is in a Great Recession, and the American Dream seems to be dying (if not already dead) to many Americans. I don’t think that the American Dream is dead; it just needs rehabilitation due to the injuries it sustained from the hands of an unregulated government. Though we are in a Great Recession, every American can progress their lives for the betterment of themselves and future generations. According to Brandon King (2011) in The American Dream: Dead, Alive, or on Hold?: “…the most worrisome problem is inequality: that wealth is concentrated into the hands of a rich minority.” Because of this, many Americans and politicians are arguing about either “raising the taxes on the rich” or “supporting the richest sectors in America” (Thomas, 2011) to stimulate the economy. In the articles I have read in They Say, I Say: The Moves That Matter in Academic Writing, both Cal Thomas and Brandon King seem to believe that the government should not tax the rich minority more than the poor majority. I disagree with both Cal and Brandon and believe that the rich should be taxed more than the poor. However, the income from the taxes should be put to use for the betterment of the poor majority of America.
Income inequality has affected American citizens ever since the American Dream came to existence. The American Dream is centered around the concept of working hard and earning enough money to support a family, own a home, send children to college, and invest for retirement. Economic gains in income are one of the only possible ways to achieve enough wealth to fulfill the dream. Unfortunately, many people cannot achieve this dream due to low income. Income inequality refers to the uneven distribution of income and wealth between the social classes of American citizens. The United States has often experienced a rise in inequality as the rich become richer and the poor become poorer, increasing the unstable gap between the two classes. The income gap in America has been increasing steadily since the late 1970’s, and has now reached historic highs not seen since the 1920’s (Desilver). UC Berkeley economics professor, Emmanuel Saez conducted extensive research on past and present income inequality statistics and published them in his report “Striking it Richer.” Saez claims that changes in technology, tax policies, labor unions, corporate benefits, and social norms have caused income inequality. He stands to advocate a change in American economic policies that will help close this inequality gap and considers institutional and tax reforms that should be developed to counter it. Although Saez’s provides legitimate causes of income inequality, I highly disagree with the thought of making changes to end income inequality. In any diverse economic environment, income inequality will exist due to the rise of some economically successful people and the further development of factors that push people into poverty. I believe income inequality e...
Last Monday, the American people were under the impression that this year’s election cycle couldn’t possibly get any worse. Unfortunately for the citizens of the United States, people around the globe, and all future generations, we couldn’t of been any more wrong. This year’s first presidential debate was chock-full of intellectual fallacies from Trump claiming Hillary isn’t fit to be president simply because of her “look” to Madam Secretary's usual conclusions of the Republican nominee’s sexist, bigoted, and racist ideology. Thanks to all of the distractions at the first presidential debate on Monday night – and thanks to Donald Trump’s Chernobyl-style meltdown over his IRS records, his business history, his Iraq war position, and the like – it was easy to overlook the insane proposals put forward by Hillary Clinton. This is something we shouldn’t
The FairTax is a consumption tax, that will replace the income tax and eliminate the need for the Internal Revenue Service or (IRS) for short. The FairTax would eliminate self-employment taxes, death taxes, capital-gains taxes, corporate taxes and a lot of others and replace complicated regulations with a simple easy to collect sales tax. The tax would cause GDP to grow because without an income tax people will have more money to spend and the increased spending would fuel economic growth. The FairTax bill also has a provision that will issue a monthly “prebate” to nullify the tax on basic necessities like food. There will no longer be individual tax returns only businesses will pay taxes to the government with the tax money consumers pay. The compliance costs for the FairTax will be lower because of fewer collection points making less...
According to Michael D. Shear and Ron Nixon, the authors of “New Trump Deportation Rules Allow Far More Expulsions”, under Trump’s current administration the policies against illegal immigrants would be heavily forced upon them. Instead of deporting undocumented people who have committed huge felons, the government will capture anyone who committed a crime. In addition, Trump’s policies will threaten all illegal immigrants who have entered the country and will no longer have the protection of the government (Shear and Nixon). However, these policies are largely opposed by many people in the country. According to Katy Murphy, who is a state government reporter, California will continue to protect illegal immigrants from deportation by limiting
Tax cuts are only benefiting the richest people, and will widen the inequality gap between the rich and the poor. A recent report from the Congressional Research Service states, “as the top tax rates a...