It's time to tax the rich
http://articles.latimes.com/2010/nov/17/opinion/la-oe-adler-taxpolicy-20101117
As an economist, Moshe Adler takes a fervent interest in the current Economy. He worries about the state of the economy and the overwhelming deficit we are in. His proposal to tax the rich reflects a strong desire to do anything reasonable to improve the economy and the financial position of the lower class. Adler stands behind taxing higher income citizens in hopes of reducing the nation's debt and increasing the employment rate.
- without higher taxing of the wealthy, unemployment jumped from 5.6% in 1990 to 7.5% in 1992.
-from the beginning of Clinton's term to 2000, with taxation of higher income citizens, unemployment dropped gradually to 4%
-Taxing the rich would allow the Government to invest more money in public services, which would benefit the less fortunate
-Instituting an annual wealth tax of 3% on the richest of the nation would yield the Government $250 billion per year
In his argument, Adler employs facts and statistics to gain support. The way in which his argument is presented is logical and effective. He, as any arguer should, presented his opponents reasons for disagreeing to his proposal, and then, with the help of facts, effectively proves how taxing the rich improved the unemployment rate.
Moshe Adler
Monday, November 22, 2010
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