A new report published by ProPublica revealed that income taxes paid by the wealthy in the United States are lower compared to the taxes imposed on most income earners across the country, which has sparked renewed debate about the deepening social inequality and the legitimacy of a wealth cap.
In report published newspaper “Washington Post” ( Washingtonpost ) American, writer Christine EMPA says the non profit organization examined group of tax returns issued over more than 15 years, and concluded that billionaires United States were able -epeshkl is Qanona- from paying low taxes By declaring their incomes insignificant compared to their real wealth. Read also Is the United States heading towards a new real estate bubble? Is the United States drowning in debt? All you need to know about US sovereign funds What are the limits of government borrowing and how does it affect the US economy?
ProPublica estimates that from 2014 to 2018, the 25 richest Americans paid taxes equivalent to just 3.4% of their earnings.
The author argues that if billionaires pay little or no income tax; Society is responsible for this, because the vast wealth amassed by every billionaire is the result of bad policies pursued by the country, as she puts it.
At a time when the Corona pandemic has pushed more than 100 million people in the United States into extreme poverty; Elon Musk and Jeff Bezos compete to conquer space.
A lot of controversy and embarrassing questions have been raised about ways to manipulate the tax system, and the new tricks that billionaire owners are devising in order to evade paying the sums owed to the state. From this point of view, the questioner should ask; Should we tax higher capital gains, raise the corporate tax rate, and create a wealth tax?
The writer believes that the wealthy do not care much about addressing the issue of the unequal distribution of wealth , at a time when the Corona pandemic has pushed more than 100 million people in the United States to the level of extreme poverty, Elon Musk and Jeff Bezos are competing to conquer space.
In her view, what is more important than discussing the adjustments that should be made to reform the tax system, is to imagine a world free of billionaires and sharp disparities in wealth.
Doing so will require refining the concept of what is acceptable, or what is just, an approach that focuses on the maximum amount of wealth one can have and, above all, on the sufficient amount of money that each person needs.
As Director of the Fair Limits project at the University of Utrecht in the Netherlands; Ingrid Robbins argues that it is morally impermissible to have more resources than is required to lead a luxurious life, and just as everyone agrees that there is a poverty line that no one should reach; Robbins sees it necessary to define a “wealth line” that no one should cross, and that will build a better world.
This theory does not impose specific numbers on the maximum wealth allowed to be possessed, but rather focuses on considering whether the numbers are reasonable or not.
For this reason, proponents of this approach are calling for a radical review of the way we look at inequality problems, part of which the ProPublica report has revealed, according to the writer.
According to ProPublica, the 25 richest people in the United States, according to the annual Forbes ranking, have a combined wealth of $1.1 trillion, equal to the wealth of 14.3 million wage earners.
Bezos and other billionaires may be smart, talented, and persistent, but it’s doubtful that they work harder than anyone else.
The writer goes on to ask about the extent to which society contributes to allowing some individuals to acquire all these wealth, and what would happen if a maximum wealth was set.
It concludes that it is difficult to answer these kinds of questions, but it is possible that the ProPublica leaks will help stir debate about these sensitive issues, review the postulates and ask more existential questions.