Can You Afford to be Wealthy in America?

Jason Cannata

Take a quick look at your bank account and see how much you have earned recently. If you are like millions of other law abiding Americans, you most likely expect to pay some form of taxes on those earnings. Now the only question is the percentage of tax you will pay, and that is a major issue as we look into the future.

What do you think is a fair amount of taxation for your income bracket? You probably don’t mind helping to keep the country running with a tax contribution based on a certain pay scale. After all, it is important for the economy, which has not been feeling very well lately.

Republicans have suggested that a reduction in senseless spending could inspire a financial recovery without raising taxes on anyone. However, the Democrats are not receptive and they have offered their own solution that the “rich” simply need to pay more to accommodate for the overspending. In order for them to continue with their agenda, a seemingly unlimited line of debt must be indefinitely extended while they attempt income redistribution.

Those in favor of increased taxes will say that wealthy people owe the country for what they have gained and should pay their fair share. But there is nothing fair about one person paying a different tax percentage than another, and although without question, the past two years have shown that a redistributive approach does not work, these politicians still cannot figure out why. Logically speaking, if someone earns a larger income, they can expect to pay higher taxes, whether everyone follows a similar rate or not.

Perhaps it is nothing new for the two parties to disagree on how problems are solved, and in this case, it is the Republicans who are bringing a fiscally conservative outlook to the table. More Americans are growing tired of the political games and looking for a better way to fix the economy. We will see if this can inspire an already out of control government to abandon any form of tax increase plans.

Our country was Founded on a few simple ideas, and one of them was the following: compensation is determined by effort. Unfortunately, if the current administration does raise taxes, it will essentially remove encouragement for success and achieving wealth will have a serious price. Something has to cause several elected officials to finally understand that penalizing wealth will never instantly provide more income for the people earning less, or what is considered not enough.

America has always prospered in the face of adversity, and it is because of a collective approach to a free market economy that balances itself without the help of government interference. Having a system where that natural freedom is prevented or interrupted will only produce the opposite effect. For real economic recovery, let us look at the Constitution and see why it worked so well, and then go forward with the promise of a tomorrow with endless possibility.