Tuesday, May 6, 2014
Even Millionaires Think The Rich Should Pay Higher Taxes
http://www.huffingtonpost.com/2014/05/06/millionaires-taxes-survey_n_5272647.html. DUE 12 MAY 2014. Where do the rich hold most of their wealth? (see graph) Why do the rich think they should pay more taxes? What should be done to lessen the inequality of wealth in the United States?
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The rich hold most of their wealth on hard work. The second factor in obtaining their wealth is smart investing with twenty percent and savings with eighteen percent. Education ranked fourth with ten percent, followed by frugality and then inheritance. Only one percent cited luck as the top reason for their wealth. The rich think they should pay more taxes because they can afford to. They also believe that anyone in America can get wealthy if they work hard. Millionaires also believe that cultural and family issues prevent many Americans from climbing the wealth ladder. U.S. millionaires view inequality as a problem. American millionaires, in general, agree that inequality is a problem. But when it comes to solutions, millionaires are just as split along political lines as the rest of the country. The best way to reduce inequality, millionaires say, is through improved education. To lessen the inequality of wealth in the United States, the rich should pay more in taxes than the middle class. Democratic millionaires are far more supportive of taxing the rich and raising the minimum wage.
ReplyDeleteThe rich hold most of their wealth in their equities. The rich feel they should pay more taxes because of the major inequality gap that our economy is facing. As stated in the article, majority of these millionaires, agree to paying higher taxes, but a minority of them will admit it is their fault for the gap initiating. According to the millionaire the minimum wage should be increased, the wealthy should be taxed more, and educational funding needs to be increased. This overall would lead to a tightening of this inequality gap that the US is facing now. You can be optimistic about this scenario, but will this ACTUALLY end inequality?
ReplyDeleteAccording to the graph the rich hold most of their wealth in their equities. The rich feel they should pay more taxes because of the major inequality gap in our country. U.S. millionaires view inequality as a problem. More than half of millionaires and multimillionaires agreed that "inequality of wealth in our nation is a major problem." he rich think that they should pay more takes in order to help close the inequality gap the make much more than the average American so it would not hurt to pay more money in taxes. According to the millionaires things that should be done to lessen the inequality of wealth is better education and financial literacy. Many truly don’t understand finances which hinder them from being able to grow wealth. Another factor that would help would be to raise the minimum wage, so that people can earn more income.
ReplyDeleteAs shown in the graph, the rich hold a large portion of their wealth in equities. The reason why they feel that they should pay more taxes if because of the income inequality in this country. A majority of the millionaires in the survey believe that the inequality of wealth in this nation is a major problem. In order to close the gap, 83% of them believe that there should be an increase in educational opportunities for the less wealthy. Some think that there should be more incentives for the less wealthy to save. To lessen the inequality of wealth in the US, there needs to be an increase in taxes for the wealthy and more government programs to aid the less wealthy.
ReplyDeleteThe rich hold most of their wealth, according to the graph, in their equities. The rich feel that they need to be paying more taxes because they know that the inequality gap is causing major problems in the country. Millionaires can support themselves when it comes to paying taxes. Paying more could quite possibly bring the gap down, but it will not fix everything. The best thing we can do in the U.S. about lessening the inequality of wealth would be to increase educational opportunities as well as increasing the minimum wage. The graph of ideas shows us that millionaires are willing to help close the gap in the country. The rich do not want to be known as the problem when it comes to the gap.
ReplyDeleteThe rich hold most of their wealth in their equities. They put their money into stocks and shares that carry no fixed interest. I believe the rich should pay more taxes because it will help with the gap in inequality that our economy is facing. They make/have more money than the middle class and lower class, they should be willing to help circulate our money and help out our economy. To lessen the inequality of wealth in the United States we should increase educational opportunities for the less wealthy. As well as raising taxes for the wealthy and increasing minimum wage. I believe that with taking those actions it will help greatly with the inequality we face in our economy today.
ReplyDeleteAccording to the graph, the rich hold most of their wealth in their equities. The rich think they should be paying more taxes because they know that the uneven distribution of wealth in the country has been a major issue. Millionaires will not be affected if they have to pay a few more taxes, and will still be able to support themselves. To lessen the inequality of wealth, we should increase opportunities in education and also increase minimum wage. Millionaires are willing to help close the gap, so we should take advantage of their support.
ReplyDeleteAs depicted in the graph, the rich holds most of their wealth in equities followed by a fixed income and real estate. The wealthy support the idea of higher taxes on the rich and more saving incentives for the less wealthy. They think by doing this it will give the less wealthy a better chance to gain money and make smarter financial plans. I think upgrading the education system by teaching subjects that actually matter would lesson the inequality over time. For example making finance class a core class along with what really happens in the business world rather than what is suppose to happen but does not really. Another thing is to get rid of trickle down economics and instead invest in the middle and poor class.
ReplyDeleteThe rich hold most of their wealth in equities. The rich believe they should pay more taxes to support the "American Dream" and help support education and furthering the lower and middle class wealth through allowing them to make better financial plans that include saving more money. The inequality of wealth could be fixed by increasing taxes on the upper class, increasing government spending to create more jobs for the lower class, and making it easier for people to pay for college so that people are more educated and can get a better job.
ReplyDeleteAccording to the graph, the rich hold most of their wealth in their equities. The rich feel they should pay more taxes because of the major inequality gap in our country and because they think they can help people achieve the "American Dream" because they are the "job creators". A majority of the millionaires in the survey believe that the inequality of wealth in this nation is a major problem.They think by doing this it will give the less wealthy a better chance to gain money and make smarter financial plans. They say the way to lessen the inequality is by making education better and also increase taxes on the upper class.
ReplyDeleteMost of the riches' wealth is in their equities. The rich should be paying more taxes because the inequality gap as it is now is causing major problems for the US. The best thing to do to lessen the gap would be to raise taxes on the rich and increase minimum wage. this would get more money in the pockets of the middle class and help circulate more money through the economy.
ReplyDeleteAccording to the graph, the rich hold most of their wealth through their equities. The rich think they should pay more taxes because of the major income inequality that the U.S. is facing. What I think what should be done to lessen the inequality of wealth in the United States is through an improve in education. 83 percent of the rich support an increase in educational opportunities for the less wealthy. Another way is to practice better savings incentives for the less wealthy and having higher taxes for the wealthy.
ReplyDeleteThe rich hold most of their wealth on hard work. The second factor in obtaining their wealth is smart investing with twenty percent and savings with eighteen percent. Education ranked fourth with ten percent, followed by frugality and then inheritance. Only one percent cited luck as the top reason for their wealth. A majority of the millionaires in the survey believe that the inequality of wealth in this nation is a major problem.The inequality of wealth could be fixed by increasing taxes on the upper class, increasing government spending to create more jobs for the lower class, and making it easier for people to pay for college so that people are more educated and can get a better job.
ReplyDeleteThe rich hold most of their wealth on hard work. The second factor in obtaining their wealth is smart investing with twenty percent and savings with eighteen percent. Education ranked fourth with ten percent, followed by frugality and then inheritance. Only one percent cited luck as the top reason for their wealth. The rich think they should pay more taxes because they can afford to. They also believe that anyone in America can get wealthy if they work hard. Millionaires also believe that cultural and family issues prevent many Americans from climbing the wealth ladder. U.S. millionaires view inequality as a problem. They think by doing this it will give the less wealthy a better chance to gain money and make smarter financial plans. They say the way to lessen the inequality is by making education better and also increase taxes on the upper class.
ReplyDeleteThe rich hold most of their wealth in their equities. The rich think they should pay more taxes because obviously, it's only fair. They're making ten times more than the middle class is making. Average workers' salary can only cover their necesities. Also, the rich agree that they should pay more taxes because of the major inequality gap that our economy is facing. A lot should be done to lessen the inequality of wealth in the United States. Among them is to increase minimum wage and decrease the unemployment wage, not forgetting to double to quatriple the rich's taxes. As long as, people are working and they're making money to spend, our economy will get going.
ReplyDeleteThe rich hold most of their wealth in their equities. The rich feel they should pay more taxes because of the major inequality gap that our economy is facing, with the middle class basically being nonexistent. In the article the majority of these millionaires, are agreeing to paying higher taxes even though only a small percentage of them will admit that it is their fault for the gap problems. A millionaire says that the minimum wage should be increased and that the wealthy should be paying more taxes to increase educational funding. All of these ideas that people want to put through believe that it will fix the gap initiating and inequality.
ReplyDeleteThe rich hold most of their wealth in their equities as show on the graph, the rich believe that their should be tax cuts on them because they see the income inequality is a real problem here in America , to lessen the inequality in wealth would be to reach minimum wage so that the working class can have more money to spend and circulate in the economy. And put more money in investments
ReplyDeleteThe rich hold most of their wealth, according to the graph, in their equities. The rich feel that they need to be paying more taxes because they know that the inequality gap is causing major problems in the country. Millionaires can support themselves when it comes to paying taxesThey make/have more money than the middle class and lower class, they should be willing to help circulate our money and help out our economy. The best thing we can do in the U.S. about lessening the inequality of wealth would be to increase educational opportunities as well as increasing the minimum wage. Many truly don’t understand finances which hinder them from being able to grow wealth. Another factor that would help would be to raise the minimum wage, so that people can earn more income.
ReplyDeleteAccording to the graph, the rich holds most of their wealth in their equities. They feel that there should be tax cuts on them because they see the income inequality is a real problem here in america. These people in the top 1% are able to support themselves when it comes to taxes, because they make more money than the middle class and lower class, which makes up majority of the economy anyways. The rich should be putting money into the economy for regulation and circulation, instead they're keeping it in a bank and not using it. The US should reach minimum wage so the working class can have more money to spend and circulate economy. I understand it's impossible to tell people how much they should spend, but the rich should have a certain amount of money that they should spend yearly so that the money is being circulated in the economy, it would help a lot.
ReplyDeleteThe rich hold most of their wealth in their equities. The rich should pay more taxes because they make more than half the income than the other 99%. It should be less of a hassle for them. It is also proven that the rich don't stimulate the economy as much as the middle class does. It's weird, but the middle class actually spends more money than the rich in some ways.
ReplyDeleteI think that they are starting to see the income inequality and the burden that they are making in our economy. The best thing the U.S. should do to resolve the issue of income inequality is to tax the rich more and increase the minimum wage.
The rich hold most of their wealth in equities. The rich think they should pay more taxes because they realize the main issue comes from income inequality. Have them pay more taxes would help to decrease the income inequality issue we have. The best thing we could do to fix the inequality issue is better the education system, increase minimum wage and create better incentives for people to save their money.
ReplyDeleteAccording to the graph, the rich hold most of their wealth in equities. The rich want to pay more taxes because the inequality gap is one of the worst problems the U.S faces today. Millionaires can afford to pay taxes. Paying more could quite possibly bring the gap down, but it will not fix everything. I believe that in order to fix the growing wealth gap, we need to educate people more about it in the first place. After we do that, we can start deprivatizing our colleges and places of education. The graph of ideas shows us that millionaires are willing to help close the gap in the country. The rich do not want to be known as the problem when it comes to the gap. However, I really doubt that it will ever be done.
ReplyDeleteAccording to the graph, the rich hold most of their wealth in equity. They want to pay more taxes because even they know that the gap is bad for our country. They want to pay more taxes because they can afford to it will help the inequality gap. The right way to fix the gap is to educate people and increase the minimum wage.
ReplyDeleteBased on data from the graph, the rich holds a majority of wealth. The rich is willing to pay more in taxes because of economic problem that stands today in our society. The gap is too big and only getting wider. The millionaires can afford to pay taxes easily, and thus allowing them to do this can create more revenue for government to spend in programs crating jobs and helping to close the gap. Another issue in helping gape close, is giving people more opportunity. Gaining a quality education is key to this issue. The rich are willing to help, but how long will it take for this change to come may be the ever pending problem.
ReplyDeleteAfter millionaires were asked the factor that contributed the most obtaining their wealth, they chose hard work. Millionaires do see the inequality gap as a problem too. But that doesn’t stop them from believing that hard work gets one to the top; only about 5% feel guilty about the wealth they earned. The wealthy believe that they should pay more taxes because they can spend more on taxes and still live comfortably. In order to lessen the inequality of wealth, more money should be spent on educational opportunities for the less wealthy; this would give them a greater chance of achieving the “American Dream”. All changes in my opinion should have to deal with giving the less wealthy more chances at success because as time goes on, it seems as if the amount of money you own determines how far you can succeed in life.
ReplyDeleteAccording to the graphs in the article, the rich hold an abundant amount of wealth in their equities. The rich think they should be paying more taxes because they are aware of the unequal distribution of wealth that we face in the country and how it is a big issue. If people who make a lot of money pay more taxes then they would still be able to live and support themselves unlike someone who makes little money. To lessen the inequality of wealth, we can increase our minimum wage and open up doors in educational facilities.
ReplyDeleteBased off the information given in the graph, the richer people hold most of the wealth in their equities. They feel that there should be tax cuts on them because they see the income inequality is a real problem here in the United States. The people in the top 1% are able to support themselves when it comes to taxes, because they make more money than the middle class and lower class, which makes up majority of the economy anyways. The rich should be putting money into the economy for regulation and circulation; instead they're keeping it in a bank and not using it. The United States should reach minimum wage so the working class can have more money to spend and circulate economy. I understand it's impossible to tell people how much they should spend, but the rich should have a certain amount of money that they should spend yearly so that the money is being circulated in the economy, it would help a lot.
ReplyDeleteThe rich hold most of their wealth in equities. The rich believe they should pay more taxes to support the "American Dream" and help support education and furthering the lower and middle class wealth through allowing them to make better financial plans that include saving more money. The inequality of wealth could be fixed by increasing taxes on the upper class, increasing government spending to create more jobs for the lower class, and making it easier for people to pay for college so that people are more educated and can get a better job.
ReplyDeleteThe rich hold most of their wealth in investments (equities). They feel taxes should be raised on them to narrow the increasing inequality gap. To lessen the inequality gap, more money should be allocated towards education. Mainly helping more people become financially literate, which the people being surveyed believe is a big factor to becoming rich. Also increase the minimum wage which has stagnated immensely from the top paid people in the U.S.
ReplyDeleteBased off the information given in the graph, the richer people hold most of the wealth in their equities. They feel taxes should be raised on them to narrow the increasing inequality gap. To lessen the inequality gap, more money should be allocated towards education. The people in the top 1% are able to support themselves when it comes to taxes, because they make more money than the middle class and lower class, which makes up majority of the economy anyways. The inequality of wealth could be fixed by increasing taxes on the upper class, increasing government spending to create more jobs for the lower class, and making it easier for people to pay for college so that people are more educated and can get a better job.
ReplyDeleteThe rich hold most of the wealth in equities. They feel like they should pay for taxes because of the inequality gap there is. What should be done to lessen the inequality of wealth in the United States is that the wealthy pay higher taxes and a higher minimum wage. if minimum wage goes higher, the middle class would be able to spend for and that is what we need for our economy. and last but not least educational funding needs to be increased, so that people will be well educated and get better jobs. these things will lesson the inequality that we have in the united states.
ReplyDeleteAccording to the graph, the wealth hold must of their wealth in their equities. They (the rich) feel that taxes need to be raised on them to make the inequality gap more equal for both rich and middle class people. According to the article, taxes should be raised on the rich and to increase gov spending. But, in my opinion.. I believe taxes should be equal for all. Not more for the rich and not less for the working/middle class..
ReplyDeleteThe rich hold most of their wealth in their equities. The rich feel that they need to pay more taxes and they know that the inequality gap is causing major problems in the country. In the article the majority of these millionaires, are agreeing to paying higher taxes. Although only a small percentage of them will admit that it is their fault for the gap problems. Also according to the millionaire the minimum wage should be increased, the wealthy should be taxed more, and educational funding needs to be increased. To lessen the inequality of wealth in the United States, the rich should pay more in taxes than the middle class. This overall would lead to a tightening of this inequality gap that the United States.
ReplyDeleteThr rich hold their wealth in equities. They also believe that they should be taxed at a higher rate because they see the inequality hap is only continuing to widen. Because of this, they believe that it is only fair thst they should pay more because they can afford. They see that what is left of the middle class could barely afford to live. If this were to happen the inequality gap would definitely shrink in the united states.
ReplyDeleteAccording to the graph, the rich hold the majority of their wealth in equities which is 45%. The second largest in the chart is fixed income holding 17% of their wealth. Based on the result of CNBC'S millionaire survey,, 51 percent of Americans millionaires believe that the current level of inequality has become a major problem. Moreover,, among democratic millionaires, 78 percent support higher taxes on the wealthy, and 77 percent back a higher minimum wage. I believe this is a great percentage and if the process of the rich paying. Higher taxes can actually help in giving back to society. Although, it might seem unfair for the rich to pay "higher taxes" but it is right for the top 1% to give back and cooporate to lessen the headaches of our economy. There are many things that could be done to lessen the inequality of wealth in the United States. One way is for the rich to pay higher taxes,, even though many millionaires agreed with this notion; it have to be all of them united to make a difference in our ecinomy, and the first step is to acknoledge that,, then take action. Afterall, "action worth more than words". The 99% make sacrifices all the time. Why not the top 1%?
ReplyDeleteThe rich hold most of their wealth in equities. The rich feel they need to be taxed more to attempt to try and fix the inequality gap between the rich and the middle class. the more they pay the more money that can be used to help create jobs and fix the economy. To lessen the inequality of wealth, the rich should be taxed more and some of that money should go to people who are going to school and getting an education that what they can be more educated and get higher jobs and make more money (and or balance out inequality in income/wealth).
ReplyDeleteAccording to the graph, the rich hold most of their wealth in their equities. The rich believe in raising taxes to lower the inequality gap. I think to fixs our inequality gap we have to tax the rich more to fund education and social programs. Education should be accessible based on merit not resources. Education is the key to success in any environment.
ReplyDeleteAccording to the graph, the rich hold most of their wealth in equities. For the rich, taxing more will tightening the gap between the rich and the poor. The more tax they pay, the more money will be used to stabilize the economy, and lower unemployment rates. The only solution to lessen the gap between the rich and the middle class is to tax the rich more. By doing that, the middle class will get a break and will be able to spend more to contribute to the economy. Also, college and university cost should be lowered so the middle class and the.poor can afford an education. And the last solution is that the rich should spend more because they hardly spent a quarter of what they earn into things that will keep the economy flowing. If all these are done, we will have a strong middle class which are the true job creators, income inequality will be reduced.
ReplyDeleteThe rich hold most of their wealth in equities. Almost half of their wealth is put into their equities. The rich also believe that they should pay more taxes because they have noticed the gap between the upper and middle class. In order to close the gap, 83% of them believe that there should be an increase in educational opportunities for the less wealthy. Which is good because education is a big factor in our economy. The rich paying more taxes would help circulate more money into our economy. Lowering taxes for middle class would get them to save more and not contract our economy as much as what is happening now.
ReplyDeletehe rich hold most of their wealth in their equities. The rich feel they should pay more taxes because of the major inequality gap that our economy is facing.The wealthy support the idea of higher taxes on the rich and more saving incentives for the less wealthy. They think by doing this it will give the less wealthy a better chance to gain money and make smarter financial plans.The best thing we can do in the U.S. about lessening the inequality of wealth would be to increase educational opportunities as well as increasing the minimum wage. Many truly don’t understand finances which hinder them from being able to grow wealth.people will be well educated and get better jobs. these things will lesson the inequality that we have in the united states.
ReplyDeleteThe article shows that the rich holds most of the money supply in this country. The inequality gap is huge. However some of the wealthy people in the country see why this is such a problem and would prefer to pay more. Those people rather start spending and paying more in taxes than let the middle class disappear because it is the majority and will cause economic problems in our country. To decrease the gap, the poor will have to find more opportunities to grow but be paid a decent amount to survive. Higher education doesn't promise better pay anymore and that's a problem in this country.
ReplyDeleteThe rich hold most of their wealth in their equities or investments. The rich like their taxes should be raised because even thru realize that there is a huge gap in wraith distribution. To fix this proven, I believe more funds need to be spent on education. The united started used to have the works most educated work force and we need to get back to that spot as soon as possible.
ReplyDeleteSome advantages of legalizing marijuana is tax revenue going to the state from users. Helping people with diseases such as epilepsy and glaucoma is another advantage we can get from legalizing marijuana. But in my opinion the highest advantage will be the fact that smokers and sellers will not be criminalized that way saving us money from prisoners who shouldn't be there. The attention can then be focused on violent criminals or sexual predators. Disadvantages that come with legalization is that fact that we will have to worry about intoxicated drivers. Also it will be more readily available to teens who's brain is not yet fully developed. Regulations have been placed on the sell and distribution of the drug. Some are residents are allowed to buy an ounce while non-residents can only buy a quarter of an ounce. Also 6 plants can only be grown and you must be 21 years of age to buy or sell. A major concern by the New York Times is adolescents will have a easier chance at getting the drug. I think it was a good decision because alcohol and guns are legal.
ReplyDelete