Rethinking how taxes are structured and collected is essential for creating a fairer society. Progressive taxation, where the wealthy pay a higher percentage of their income in taxes than those with lower incomes, is a way to address the current wealth inequality.
The elimination of tax breaks and loopholes that benefit the wealthy is another necessary step. These loopholes often allow the wealthy to avoid paying their fair share of taxes while middle- and low-income earners are left to bear the burden.
One way to make the tax system fairer is to increase the marginal tax rate for the wealthiest earners. This means that the percentage of their income paid in taxes would increase as their income increases. Another way is to tax capital gains at the same rate as income rather than at a lower rate as is currently the case. This would ensure that those earning their income through investments pay their fair share.
Additionally, eliminating tax breaks and loopholes that primarily benefit the wealthy is necessary. These include tax breaks for corporate jets, yachts, and other luxury items. Eliminating these tax breaks would allow for the redirection of funds towards more socially beneficial projects, such as education, healthcare, and infrastructure.
Another way to create a more equitable tax system is to shift the tax burden away from essentials like food, housing, and healthcare. Instead, taxes could be levied on luxury items and non-essential goods and services. This would help ensure that those struggling to make ends meet are not burdened with additional taxes while those who can afford luxury items are paying their fair share.
It is difficult to make a generalization about all conservatives as political ideologies and beliefs vary widely within any political party. However, it is true that some conservative politicians and policy-makers have been accused of prioritizing the interests of the ultra-rich over those of the general public. This is evidenced by policies such as tax cuts for the wealthy, reducing regulations that benefit workers and the environment, and cutting funding for social welfare programs.
Money’s influence in politics is a major concern, and many believe that wealthy donors and special interest groups have too much influence over elected officials. This can create a situation where politicians are more responsive to the interests of their wealthy donors than their constituents’ needs and interests.
However, it is important to note that this is not unique to conservatives, as many political parties in the west are subject to money’s influence in politics. The solution to this issue requires systemic changes such as campaign finance reform, lobbying restrictions, and greater transparency in the political process rather than simply blaming one political party or ideology.
It is highly likely that without taxes, we would end up with a feudal system where the ultra-rich 1% controls society. Taxes are essential for funding public goods and services that benefit all members of society, such as education, healthcare, infrastructure, and social welfare programs. Without taxes, these essential services would be severely underfunded or non-existent, leaving many people without access to basic necessities.
Furthermore, taxes are also used to fund regulatory agencies that ensure the market remains fair and competitive, protecting consumers and workers from exploitation by powerful corporations. Without these regulations, the market would become dominated by a few powerful corporations using their influence to create monopolies, suppress competition, and exploit workers.
Taxes are necessary for funding public goods and services and promoting a fair and competitive society. The absence of taxes would likely lead to an unequal and undemocratic society where the ultra-rich hold all the power and control.
How taxes are structured and collected is necessary for creating a fairer society. Progressive taxation, eliminating tax breaks and loopholes that benefit the wealthy, and shifting the tax burden away from essentials are all steps that can be taken toward a more equitable system. It is time to prioritize the needs of the many over the interests of the wealthy elite, and a fairer tax system is one way to do so.