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Should we raise taxes for the rich?

We shouldn't raise taxes on the rich

They enjoy the wealth. They should pay more

 Spencer Platt / Staff

Simply raising taxes for the top 10 percent does not guarantee to improve the economy or the lives of the poor. Eric Garland, taking inspiration from philosopher Alain de Botton, argues that simply taxing the rich more ignores the deeper reasons for their need to acquire wealth and reluctance to share it. Acquiring huge riches is seen as proof of an individual's hard work and moral qualities. If society manages to give the rich this moral and personal validation through other means it can inspire them to to share their wealth on their own.  

Keep on reading at ERIC GARLAND

Paul Buchheit tackles arguments like high taxes removing initiatives to succeed for the rich. Looking at data from the 60s to the present day he highlights how taxes on America's elite have fallen while their profits have gone up. Meanwhile middle class wages have stagnated. Hoping for the rich to distribute their own wealth through philanthropy is wishful thinking and doesn't always benefit those who need it the most. Money acquired by the wealthy, unlike the poor, tends to be saved, where it cannot benefit the economy.    

Keep on reading at Common Dreams
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