Should The Rich Pay More ?
One-Writing-A-Day Challenge, No. 15/1000
A luxury yacht called Octopus, owned by Microsoft co-founder Paul Allen.The idea of charging more tax to the richest Americans raised a lot of debate in the United States. The wealth tax means that the very rich should contribute an extra share of their total wealth each year to support public programs. A wealth tax is based on how much money an individual has as well as shares of stock, bonds and other investments, including land. It is separate from an income tax, which taxes wages, as well as interest and dividends from investments.
President Donald Trump from Republican Party called that system socialism. However, 53 percent people supporting the party also agreed with the idea. Needless to say, supporter of Democratic Party was strong, at 77 percent. Zimmerman said she would support a wealth tax that would be a good way to help financially former armed forces members, or help single parents with young children.
Korea has a system called Progressive Tax, in which wealthier people pay higher tax in a gradual manner. However, some people assert that the richer pay more tax than now. I agree that wealthy people should be forced to distribute some part of their wealth to create a fairer society, and we should honor them for their sacrifice, even though some people think they make money by exploiting low economic class people.
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