Should high-paying jobs be taxed more to support low-income workers?
학생이 쓴 원문
With the effect of redistributing wealth and tackling income inequality, many people argue that high paying workers should be taxed more. However, I believe the effect is limited. Eventually many high earners would move to other countries with less or no income taxes, hence there is less population to spend and invest in the economy. If high earners start to leave the country, there will be decreased tax revenue or shortage of skilled workers in certain fields. For example, many finance jobs are moving to UAE with no income tax. Also, many technology jobs are moving from California to Florida, hence decreasing the tax revenue of California. There are several methods to support low-income workers. First, there is an increased minimum wage, but this can cause inflation by burdening shop owners to increase the product price. Then there are tax credits and subsidies, but the efficacy will only last until government income allows and lead disparity of the between wealthy and poor countries.
강사 첨삭
Thank you for this Aciel!
With the effect of redistributing wealth and tackling income inequality, many people argue that high paying workers should be taxed more.
>>> With the effect of redistributing wealth and tackling income inequality, many people argue that high-paid/high-income workers should be taxed more.
However, I believe the effect is limited.
>>> correct
Eventually, many high earners would move to other countries with less or no income taxes, hence there is less population to spend and invest in the economy.
>>> correct
>>> OR: Eventually, many high earners would move to other countries with less or no income taxes, resulting to a lesser population spending and investing in the economy.
If high earners start to leave the country, there will be decreased tax revenue or shortage of skilled workers in certain fields.
>>> correct
For example, many finance jobs are moving to UAE with no income tax.
>>> correct
Also, many technology jobs are moving from California to Florida, hence decreasing the tax revenue of California.
>>> Also, many technological jobs are moving from California to Florida, hence decreasing the tax revenue of California.
There are several methods to support low-income workers.
>>> correct
First, there is an increased minimum wage, but this can cause inflation by burdening shop owners to increase the product price.
>>> First, they can increase the minimum wage, but this can cause inflation by burdening shop owners to increase the product price.
Then there are tax credits and subsidies, but the efficacy will only last until government income allows and lead disparity of the between wealthy and poor countries.
>>> Then there are tax credits and subsidies, but the efficacy will only last until government income allows and leads to a bigger disparity between wealthy and poor countries.
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