Huynh_CA5_Taxes.docx - 1 Duyen Huynh Professor Monica...

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Duyen Huynh Professor: Monica Landeros POLSC 125 Oct 10th, 2017 Big gap between rich and middles class income. The discrepancy between rich and poor people in America has been increasing more and more. Recently, Mitch McConnell, the Senate majority leader, acknowledged that the Republican tax plan would raise taxes on millions of middle-class families whereas cutting the corporate tax and provide tax benefits for business such as the ability to immediately expense purchases of equipment. That emerged a controversial that in the near future, the gap between rich and poor people in the U.S will become even larger than before. The middle-class families, who have been dealing with cost living which includes house payment, car, health care, etc., now have to face with the increase of taxes, which will take out most of their wages. They would have tiny money left for saving. An increase in taxes for the poorer class also indicates the inequality status in America. Why? It is because the wealthy now will not have to pay much in taxes as before whereas the poorer have to pay more with their small amount of wages. When top 1% of rich people make millions each year, they at least have to pay the same percentage of their wages like what middle class has to pay. It is ridiculous that the upcoming policy allows them to pay a smaller percentage of tax compared to middle class. Can see the equality in that policy? No!
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  • Fall '18
  • Monica Landeros
  • Poverty

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