A Persuasive Essay on “Should Only Rich People Pay Taxes?”- Give Particular Instances and Examples

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You have to put up precise arguments and support them with convincing facts and logical reasoning.

Structure and layout are essential components of a compelling essay. A document that lacks a powerful introduction, well-organized body paragraphs, and an insightful conclusion, no matter how clever the concepts, is not a successful paper. A persuasive essay sometimes called an arguing essay, is a study in which you use logic and reason to prove that your position is more legitimate than any other. You have to put up precise arguments and support them with convincing facts and logical reasoning.

 

While writing you must think “how do I write my essay and incorporate all these things?” Well, we are here to help. Just read on to find out more. 

 

First, the writer must convince the reader to adopt a specific standpoint or to carry out a certain action. Persuasive essays need thorough research, knowledge of the reader's prejudices, and a thorough grasp of all sides of the subject. For example “Should sodas be allowed in the school cafeteria?”, “Should students under 18 be able to vote?”, “Does social media improve or hurt our society?” etc.

 

Persuasive writing is often used in marketing campaigns to persuade you to buy something. However, it is not restricted to marketing; it is utilized in a variety of circumstances. The essay writer of a persuasive essay argues why his point of view is correct and why the opposing argument is flawed.

 

Bear in mind that writing is a process that is always evolving. There are no hard and fast rules to follow when writing. Consider writing to be an investigation of ideas, and allow this sense of exploration to drive you while you compose your essay. You can also take help from an essay writing service that is committed to providing the best quality academic writing to students around the world.

 

Should only rich people pay taxes?

 

Debate on the topic, “should only rich people pay taxes?” has been going on for decades. A Politico-Morning Consult poll found that 54 percent of Americans “strongly agree” that the wealthiest individuals should pay more taxes than middle-class people. As the country's economic woes have deteriorated in recent years, so has the discussion. People on the left of politics usually favor increased taxes on the rich, arguing that the wealthiest can easily afford to contribute more.

 

Have you ever heard of the expression "rich becoming wealthier, poor getting poorer"? It is considered true by many individuals. People who live with a lot of money have a higher number of investment options that allow them to go up the economic ladder. When it comes to a country's wealth disparity, the adage "it takes money to produce money" is quite accurate. The rich might invest their profits in the stock market to achieve a higher return. Those who do not live in luxury do not have the means to boost their chances of improving their financial situation.

 

This discussion brings us to our recent topic, i.e., should only rich people pay taxes? In our opinion, it is correct, owing to the fact that wealthy individuals continue to make more money while poor people can hardly make ends meet in their day-to-day lives. What a country decides about the taxation of the affluent has broad consequences for its future economic growth and the distribution of economic opportunities and resources. In difficult conditions, the government needs to look for new ways to collect revenue. It makes sense to increase taxation on the wealthy since they can afford it most.

 

Wealth tax

 

A wealth tax is a tax that applies to accumulated wealth: money, property, investments, and so on that, you've collected over the course of several years. In general, this tax is applied to the net value of a person defined as assets with fewer debts. Examples of these assets are cash, bank accounts, shares, fixed assets, motor vehicles, real estate, pension schemes, cash funds, house ownership, and trusts.

 

Examples and Facts

 

Some cities have already begun to consider imposing a wealth tax to help balance the huge economic burden. The state of New Jersey enacted a millionaire's tax, which increased the income tax rate for people earning more than $1 million. A 0.40 percent wealth tax on persons worth more than $30 million has been proposed in California.

 

According to the National Conference of State Legislatures, Illinois, Massachusetts, Maryland, Wisconsin, Hawaii, Oklahoma, and Vermont have suggested different types of tax increases on high earnings.

 

Many analysts feel that raising taxes on the rich would benefit the economy. The burden on low-to-middle-income earners grows as the expense of health care, daycare, and housing rises. The fact that persons with a net value of over 30 million dollars donate two cents a dollar does not seem like much.

 

The tax income can be used to reduce the government deficit or finance key federal programs, such as good infrastructure, national parks, renewables, and affordable health care. It might also assist healthcare workers, schools, teachers, and mental health specialists who are dealing with the epidemic.

 

If you're thinking, "Well, the affluent make more, so they should pay more," consider that the richest 1% of taxpayers in America account for 20% of all income. As a result, their 40 percent portion of income taxes is equal to double their percentage of national revenue. In 2018, the richest 0.1 percent of taxpayers paid a larger percentage of the income taxes than the bottom 75% of taxpayers combined. You can get assistance online from paper writing service providers.

 

It is not accurate to suggest that the wealthy do not pay taxes. They do, and they pay well for it. The debate is whether they should pay a greater proportion of their income and wealth than middle-class citizens.

 

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