BCOM275 Week 5 Learning Team Assignment Debate Paper
BCOM275 Week 5 Learning Team Assignment Debate Paper
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Date Created: 11/13/15
Running head RAISING FEDERAL TAXES IN THE UNITED STATES Raising Federal Taxes in the United States XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX BCOM275 xxxxxxxx XXXXXXXXX RAISING TAXES IN THE UNITED STATES 2 Raising Taxes in the United States Federal income tax is a major topic of debate among many citizens in the United States today Most middle class Americans would prefer not to see federal income tax increases because that will be more money taken out of their hard earned paychecks However the middle class may not have it as bad as some would expect Federal income tax rates are hitting alltime lows in recent decades In 2000 the year before the 2001 tax cut that President Bush and Congress enacted the medianincome family of four paid 80 percent of its income in individual income taxes according to Tax Policy Center estimates a smaller share than in any year since 1967 Marr amp Brunet 2011 para 5 So the percentage of taxes taken from most median income families paychecks has been on the decline starting in the 21st century While raising federal income tax might not be the most popular option in the majority of Americans minds there are still definitely pros and cons to every topic of debate Some of the pros of raising federal income tax would include an increase in government revenue national health benefits shared wealth among financial classes and aid in reducing national deficits Some of the cons of raising the federal income tax include it being an unstable source of income and decreased job creation If raising federal income taxes has so many pros and cons to weigh what is the right thing to do Do the cons of raising federal income tax outweigh the pros or is it time that the United States Government starts to increase the percentage of income taken out of Americans paychecks As all may know or have heard by now most Americans do not believe it is a benefit to the middle class to raise taxes It is not popular topic because many believe it does not offer enough benefits However relevant or not there are some taxes that are needed for certain RAISING TAXES IN THE UNITED STATES 3 services vital to our states to continue It also is a means of balancing our economic budget Raising taxes on the rich can always help those less fortunate When taxes are raised it results in additional revenue to pay for several types of services and programs Federal Programs such as Social Security and Medicare are funded by tax dollars When we see highway construction road repair and interstate highway systems they all require taxpayer funding Property taxes and real estate taxes are used to maintain area schools It was encouraged to learn that taxing harmful items such as tobacco could be used as a tactic to discourage people from using them According to a TabacooFreeKidsorg study if every state and the District of Columbia added a one dollar per pack tax on cigarettes 23 million children would not take up smoking 12 million adults would give up the habit and one million premature smokingrelated deaths would be prevented This would be a great benefit to the American population TobaccoFreeKidsorg also shared that raising taxes on tobacco could have a positive impact for politicians The website cites a 2010 national poll showing that a whopping 67 of Americans are in favor of a one dollar tax increase per pack of cigarettes When looking at this the politicians that support the increase could possible find themselves in good favor with the people Higher taxes could result in wealthier people being willing to support those less fortunate than themselves By raising taxes on those who earn in excess of a certain dollar amount yearly the additional revenue could be used to fund programs These programs can assist the disabled poor and lower class income families The rich would not be affected by the impact as much RAISING TAXES IN THE UNITED STATES 4 This concept would avoid placing additional tax burdens on middle income wage earners The middle class usually cannot afford any additional taxation At a time when Republicans are digging their heels against the fact of raising more federal tax revenue private sector economists are sending an opposite signal Some three quarters of economists who do forecasting for the private sector say revenue tax should increase as a part of the efforts to tame unsustainable budget deficits according to the survey released by the National Association for Business Economics NABE Approximately 250 business economists participated in the survey By contrast 19 said tax reform should be done in a revenue neutral way and five percent said reforms should reduce tax revenues This explains why many favored President Obama s bipartisan fiscal commission To fix this mess many finance experts believe the tax reform could be pursed in a way that simplifies the tax code and keeps rates low Reducing some tax rates while raising more revenue by closing any loopholes and reducing deductions would be a solution Ensuring we contain healthcare cost in Medicare and Medicaid When speaking of raising taxes for individuals who make more than 250000 per year there are cons to the topic as well One con mentioned often is a tax increase is an unstable source of revenue This can be argued for several reasons One of the reasons is that the percentage of the population with higher income is usually invested in the stock market The stock market is much like the weather in the sense that it is unpredictable People can make educated guesses but there is no certainty This means that the money invested in the stock market could suffer severe shocks Depending upon the amount of money that was invested this could be highly detrimental to the investor Not only would this be detrimental to the investor RAISING TAXES IN THE UNITED STATES 5 but also would be equally detrimental to the government who is expecting revenues from the taxes of said money If the government depends on the revenues generated from taxing the wealthy they can be blessed or cursed When the market is booming incomes are high and the taxes generated are high also When the market slumps however then people lose income and the amount of taxable money decreases Frank 2011 Then as a result of the tax increase on the wealthy investments begin to decline The wealthy will not want to risk losing anything because the loss could prevent them from being able to pay their taxes Without investors companies will have less money to spend and the result is fewer products less productivity and less of a need for jobs Raising taxes on the wealthiest percentage of the population could result in a termination of current jobs and in turn hurts future job creation This is especially true on the level of small business Business owners could pay their taxes as a corporation or an individual Small business owners will usually opt to pay as individuals to avoid double taxation They will include the revenues from the business into their individual returns and they will only pay taxes one time instead of having corporate taxes and individual taxes Ensign 2009 When small business owners do this however they are considered to be a part of the wealthy population because their incomes re ect more than 250000 This will place them into the bracket where taxes will be increased and the business owner will have to pay more to the government When this happens then the business owner will have less money for new jobs The revenues that the business generates will not go toward an expansion of the company but they will go to the government by way of taxation Additionally Ensign 2009 states Businesses operating on tight margins will not want to hire someone today if they know they will be forced to lay them RAISING TAXES IN THE UNITED STATES 6 off in less than two years para 18 Therefore increasing taxes on the wealthy not only creates a situation in which small businesses cannot hire but they simply will not hire Federal income taxes are and will continue to be a debate among many people in the United States Raising federal income tax has its pros and cons and by raising federal taxes the middle class is generally the most affected This tax bracket is easily affected by any change With increasing federal taxes the government can provide more for the citizens such as better roads and other federal aid On the opposite side of the argument the government will have to find another way to raise revenue which may end up coming out of the pockets of the middle class in other ways Cultural Evaluation of Japan Japanese culture has been becoming more westernized which makes communication confusing and impossible to evaluate at times Changing into this new westernized communication makes it difficult to understand body language gestures correcting and silencing Each of which are important concerning to trying to understand what another person is trying to say Body Language and gestures Japanese may consider some gestures or forms of body language offensive For instance Americans will cut across out neck meaning time up or stop In Japanese culture this means termination of employment The simple thumbs down which means bad to us means go to hell to the Japanese These simple English gestures that we find to help us explain what we mean is completely different in other cultures Because some of these gestures are slowly making their RAISING TAXES IN THE UNITED STATES 7 way to Japan there is a barrier forming not to use gestures at all thus making it hard to communicate properly in the Japanese culture Correction Making mistakes in the Japanese culture is looked down upon One of the most heard comments about Japanese and other East Asian students is they will not speak because they do not like making mistakes but in fact silence and long pauses are because of a lack of ideas vocabulary or functional language to be worried about grammar Case 2011 Silencing When discussing being silent in western society westerners consider it as someone is stuck up or uninvited In the Japanese cultural being silent is not looked at like that Culturally they find it a time of thinking or offering the other persons input into the conversation All of these make arguments different in Japanese culture Most Japanese will try not going into an argument headon because of the differences in body language silencing corrections and the different gestures Eyes sometimes though speak more than words Japanese tend not to display their emotions We even show these in the typing we do As Yuki a graduate student was evaluating he noticed the differences in the emoticons that Americans and the Japanese use He says It took some time before I finally understood that they were faces Lennor 2007 Emoticons used by the Japanese tend to emphasize the eyes more than any other part of the face RAISING TAXES IN THE UNITED STATES 8 References Case A 2011 Culture in the Japanese Classroom Retrieved from httDeditionte netarticleshomeabroadculturaldifferencesiaDan Lennor M 2007 Americans and Japanese read faces di erently Retrieved from httpWWWlivesciencecom l 498americansj apanesereadfacesdifferentlyhtml Frank R 2011 The Wall Street Journal Retrieved from httponlinewsjcomarticleSB l000l424052748704604704576220491592684626html Ensign J 2009 US Senate Republican Policy Committee Retrieved from httDrpcsenategovDublic files03l709Taxin2SuccessDdf Marr C amp Brunet G 2011 April Federal Income Taxes on MiddleIncome Families at Historically LOW Levels Center on Budget and Policy Priorities Retrieved from httpWwwcbpporg
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