Should The Rich Pay More Tax? Essay

1657 WordsApr 25, 20127 Pages
Michael Edwards Edwards 1 Professor Kathy Hansler English 101_Spring 2012 Feb. 28, 2012 Essay 2: Should the Rich Pay More Tax? Do you believe that the rich should pay more taxes just because they have more money? I guess it depends if you’re rich or not. This article “Should the Rich Pay More Tax?” by the United Kingdom Times uses Warren Buffet’s argument that the very wealthy people are taxed too leniently and the author agrees or does he? The author argues that the wealthiest tax rate should not be raised but should be lowered. The author says in the article that high marginal tax rates cause people to find loop holes or attempt to avoid paying as much of their taxes as possible. The author insists that lowering taxes for the wealthy will encourage them to pay their taxes. The author who wrote the article “Should the Rich Pay More Tax?” by the United Kingdom Times opens with a reference to Warren Buffet’s statement saying he believes the wealthiest are taxed to low.(1) At first the author agrees with Warren Buffets statement but then supports and defends that the key to fixing the tax problems in the UK is lowering the tax rates on the very rich, not raising them. By doing this, the rich will be more willing to pay their share, which would equate to paying more than what they are paying now when taxes are very high. The author says that it will bring back many wealthy people who left the country due to high taxes and bring more revenue to the government. The author backs his claims with good examples Edwards 2 by comparing Chancellors, Denis Healey and Nigel Lawson on how they handle the tax issues in their own way. The author does admit that there is insignificant statistics on any plan that was implemented to fix the tax issues in the UK and has no significant

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