Tax Argument Paper
Tax argument paper Problem The richest people are using loopholes to avoid paying taxes. According to the Center for Budget and Policy Priorities (CBPP) and ProPublica the largest loophole is billionaires getting money from the increase in the worth of their assets and the government not considering it income unless they sell the assets. The taxes for income on assets being sold (investment income) is lower than the taxes for wages and salary income at 23.8% vs. 43.4% listed by Americans for Tax Fairness (AfTF). This means the money they gain is unavailable to the economy and government. If they pay their fair share of taxes, the government will have more money to spend on things. Solution My suggestions for solutions are: if you have an income or worth above a threshold you have a minimum tax rate of 30% or there being a tax bracket that when some of your income applies, your tax cannot be reduced below a point. Some possibilities suggested by AfTF are "close the wall street car...