Shoukry 1 Jeanette Shoukry John Kubler English 114A 5 December 2013 Argument Proposal and Annotated Bibliography There

have been many discussions over the past few years on how we can improve the economy. Though no one has yet to come up with a solution, there have been many ideas on what we can do to help improve the economy. One idea has been to increase the taxes on the rich; however, not everyone is a fan of this idea. Some experts think that taxing the rich more will help because they make more money than most people do. Yet, the rich are not a fan of this idea because they think it will affect their lifestyles. There are those that are in favor of higher taxes on the rich. However there are also some that are opposed to taxing the rich more. Taxing the rich may be the solution to solve the troubles that our economy is now facing. The higher taxes for the rich is just what our nation needs to help us get out of this massive amount of debt that we have been in for the past few years. Our economy has slowly been declining over the years. No one knows for sure if this will help our economy or hurt the economy. The economy has been in dire need of help for the past few years now because of the amount of debt that everyone is in. Sources Sherter, Alain. "Why Raising Taxes on the Rich Is Good Economics." CBS News. 9 Aug. 2011. Web. 10 Nov. 2013. This article was written by Alain Sherter, for cbsnews.com. This writer talks about why raising taxes on the rich is good for economics. Balancing the budget is a compelling simple task. The

Shoukry 2 Economic Policy Institute and The Century Foundation have come up with 10 reasons to raising tax revenue on high income earning households. Republicans intend to fight the tax hikes at all cost. I can use this perspective to provide evidence as to why the rich being taxed more will help our economy. Johnson, Jamie. "The One Percent." YouTube. Web. 10 Nov. 2013. This video talks about the start of the wealth of the Johnson family as well as the effects that the economy has had on families. The Johnsons families wealth has grown with each passing year. Their great grandfather had started the Johnson & Johnson pharmaceutical company. They are one of the American families that own most of the countries wealth. The top 1 percent of Americans own roughly 40 percent of the countries wealth. The south side of Chicago is one of the poorest inner cities communities in America. Yet now rich people are moving in, and creating serious changes in the neighborhood. I can use this perspective to provide evidence that not all rich go into the family business. Przybyla, Heidi. "Gates Says Wealthy Should Pay More to Help Reduce Deficit." Bloomberg. 7 May 2013. Web. 10 Nov. 2013. Bill Gates is the second richest man in the world, and he believes that the rich should be taxed more. He finds the automatic spending cuts worrisome. Gates says that the Wealthy should pay more as the U.S. continues to grapple with how to rein in its budget deficit (1). He is co-founder of Microsoft corporation as well as co-chairman of the The Bill and Melinda Gates Foundation. I can use this perspective to provide evidence that not all rich people are against their taxes being raised. Jones, Susan. "Gallup: 52% Support Heavy Taxes on the Wealthy to Redistribute Wealth." CNS News. 18 Apr. 2013. Web. 10 Nov. 2013.

Shoukry 3 A Gallup poll has shown that six in ten Americans believe that money and wealth should be more evenly distributed. Yet their is one-third of Americans that believe that the distribution now is fair. Compared to republicans eight in ten democrats favor a more even distribution of wealth. Fifty-two percent of Americans have said the the government should redistribute wealth by imposing higher taxes on the rich. I can use this perspective to provide evidence of how many Americans believe that the rich should be taxed more. Hawkins, John. "5 Reasons We Shouldn't Raise Taxes Right Now." TownHall.com. TownHall.com, 16 Nov. 2010. Web. 10 Nov. 2013. Raising taxes when the economy is poorly is a terrible idea. Raising taxes is a surefire way to slow economic growth. Raising the taxes also slows long-term economic growth. The larger the government gets, the more the economy slows down. With the economy moving slower the unemployment rate will be higher. I can use this perspective to provide evidence of the effects that higher taxes will have on the economy.