1% vs. 99%

From Michelle:
I saw this article and could not avoid sharing it. As a tax associate, I felt like it was appropriate to share an article related to both tax and social ethics. This article hits the spot. “Don’t tax the rich tax inequality itself” provides a different perspective to the whole steal from the rich give to the poor mentality that many people don’t agree with. 
The reality is that the top 1 percent of income owners slowly is taking a greater share of the nation’s wealth, and it is not trickling down. The article suggests implementing a Brandeis tax the targets the top 1 percent of income owners. An interesting idea from my perspective especially since this means those who earn over 330,000 per year. 
The reality I feel is that the rich and large or small companies don’t create jobs, the consumers do. If consumers are buying, they are feeding the economy, and who are these consumers? Most likely they are the ordinary middle class consumer. Now I understand the importance of investors and building capital, but I feel it all comes down to the customer, and we should be aiming to help them more than the investor. 
How do you feel? Do you feel we should put more purchasing power in the hands of the middle class or should we continue to aid that top 1 percent? “

About Mark P. Holtzman

Chair of Accounting Department at Seton Hall University. PhD from The University of Texas at Austin. Worked at Deloitte's New York Office. BSBA from Hofstra University.

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