Should the Federal Government increase social services initiatives to improve the quality of life issues for the less fortunate ones
Real estate magnate Donald Trump once proposed a one-time tax of 14.25 percent on the net wealth of every American with more than $10 million. Would this be an efficient way to raise tax revenue? Why or why not?
Should the Federal Government increase social services initiatives to improve the quality of life issues for the less fortunate ones. (For instance: 1) promoting training/educational assistance initiatives to help the unskilled workers obtain/hold jobs;
2) assist the elderly/homeless with affordable housing:
3) increase health insurance coverage for the poor.) Secondly, what impact would this have on the federal deficit? Is that a burden we should place on all of the citizenry? Why?
Please use reference below and put page number
Lee, R.D. & Johnson, RW. (2008). Public budgeting systems (8th ed.). Sudbury, MA: Jones and Bartlett. ISBN: 9780763746681
Chapter 4: Budgeting for Revenues: Income Taxes, Payroll Taxes and Property Taxes
Chapter 5: Budgeting for Revenues: Transaction-Based Revenue Sources
Chapter 6: Budget Preparation: The Expenditure Side
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Real estate magnate Donald Trump once proposed a one-time tax of 14.25 percent on the net wealth of every American with more than $10 million. Would this be an efficient way to raise tax revenue? Why or why not?
Raising the tax and burden rich would be such a good idea of increasing revenue but there are consequences that might not be favorable in the end. A higher rate would increase the revenue that can be used on services such as aid to the poor and offering health services and other social amenities that people lack especially the poor. It might sound as such a good idea but the rate of inequality will not reduce. The aim of taxing the rich at a higher rate is to reduce…..
