US Taxation System is Unfair to Ordinary Workers Kesha Krider Devry University Does anyone find it hard to shake the feeling that the wealthy have ways of hanging on to more of their money, while year after year the middle class dutifully hand over their hard earned money to our abominable tax system? It is past time to overhaul the way we pay for the services that our government provides for us in the United States. The current system of multiple taxes, when considered as a whole, is grossly unfair to ordinary workers. Two major points to acknowledge about the unfairness is the fact that middle class workers have no representation or knowledge of the establishments of laws and the dreaded burden of continuous tax hikes. The federal, state and local tax systems in the United States have been marked by significant changes over the years in response to changing circumstances and changes in the role of government.
The basic disadvantage of the social security system is that, that it is making people lazier in their respective form of work. People are more interested in the amount of pension they will be paid, rather than working and checking their own efficiency to work. Though, this program has been designed in such a way that, the amount of pension a person will get, depends upon their premiums paid to the trust. But, still the people are getting more of lazy at work. It is because of this cause, that the people are anticipating insolvency of the social security system.
Unlike banks, credit unions do not pay taxes; this allows them to offer higher rates for deposits and lower rates for loans. The credit union members are the share owner of the credit union, meaning that it assets are based on the membership deposits. If the membership declines it faces tremendous problems. The biggest trend that is threading the credit union today is the financial crisis that is swiping the financial industry, financial institutions that have been establish over 100 years have fallen to this crises. The future of the banking industry and credit union is not certain.
When talking about the U.S. deficit, debt, and surplus, there are only a few thing the taxpayer worries about. Those are their; tax money, Social Security, and Medicare. Although Social Security and Medicare are a close second and third, taxes are first on that list. Tax payers don’t complain so much about paying less but they do not like paying more for any reason. There other concern is Social Security and Medicare may run out.
Wealth is the accumulation of money that is passed on to future generations which is different from income which is the money earned in one’s lifetime. The tax code was set up to collect taxes on inheritance by collecting gift and estate taxes on money that would pass from one generation to the next which would flow back to the government and ultimately the people. This has failed because of loopholes in the tax code. These inheritances have continued to contribute to the unequal distribution of wealth. Capitalism as an economic system
A final less important reason was that the Lords believed that it was the fault of the poor that they were destitute in the first place. They believed there was no reason why they should be let off more lightly and have to pay less taxes when it was their own fault for being in that position in the first place. They argued there were other ways to raise money that wouldn’t affect the rich as much, such as through tariffs on foreign
Through East Egg and West Egg, Fitzgerald reveals that the American Dream is simply an illusion for most people in society. It is portrayed as though those in East Egg simply inherit their money (this is why they are considered ``old money``), while those in West Egg have somehow earned their money by working for it (this is why they are considered the ``nouveau riche``). When Fitzgerald writes ``Whenever you feel like criticizing anyone, just remember that people in this world haven’t had the advantages that you’ve had.`` (7), he is trying to say that it is much better to be morally upright when you are trying to make an honest living. In saying this, Fitzgerald makes the immorality of the wealthy seem even more unforgivable. Another important piece of evidence that shows that the American Dream is not what it appears to be is the fact that Gatsby did not earn his wealth through hard work.
“Back when there was twelve people paying in to support one it was fine, but now when you have three people paying in to support one, what do you do; raise taxes or cut benefits? (Lowery, Jarrod)” The two answers to fix Social Security will hurt some people. For example, if taxes was raised my generation would probably never see the benefits of Social Security because they would be cut out due to the tax prices being raised. If benefits were lowered then that would affect the older generation, because they would not be able to pay for the bills they may receive when Social Security is the only income that they receive in their household. Studies show that people eighty and older Social Security provides seventy percent of their income.
Social Security Social Security was designed to lessen the deficit, take care of the elderly and especially the Baby Boom generation after they retire. Dean Baker clears up the myth about how Social Security Trust Fund is an accounting fiction. He explains that the Social Security Trust Fund buys bonds when there is a surplus in the amount of Social Security tax. If the Social Security Trust Fund did not build a surplus and lend out this money to the government, we would still have a deficit. A goal of Social Security is to take care of the elderly.
America does not treat everybody equal, healthcare is not handled in the right manner, and how is it fair for the poverty families have to pay more in taxes than those of the wealthy families? It just doesn’t add up. Well at least, I cannot make sense of it. Can you? America, “home of equal opportunities…” or so we thought.