ECO-2013 Study Guide - Quiz Guide: Tax Rate, Tax Bracket
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Class notes: basically everyone who is a citizen in the united states owes money through taxes because the national debt continues to rise, the government debt causes higher prices on many things, including gas. America: my incentive to accumulate wealth would drop drastically after a wealth tax was imposed, the amount of money that i have been working for has decreased because taxes have. If i was wealthy and had been making the same amount of money for the past 15 years, and all of a sudden a wealth tax is imposed and my paycheck has dropped , i would feel hopeless. I would still work and invest but it the amount that i work and invest would drop. I would save and invest much less: say i was asset rich but cash poor, i am still in the wealthy group, i have no money to pay the wealth taxes because i don't have any actual money.