Should wealthy people pay more in taxes?

ANNOTATED BIBLIOGRAPHY
JULY 25,2022 HARSH GARG
Annotated Bibliography
 
CITATION
Goldstein, L. (2021). Retrieved from https://torontosun.com/opinion/columnists/goldstein-
make-the-rich-pay-new-reports-show-in-canada-we-already-do

SUMMARY OF THE SOURCE

Making rich pay more taxes is the constant battle going on in the country, reports said. Prime
Minister Justine Trudeau and even NDP leader Jagmeet Singh, making rich to cry with the battle.
This study was done by Fraser Institute. Top20% of income-earning people in Canada are
making more than $200000 dollars annually who pay almost two-third of the federal and
provincial income taxes and more than half of all other taxes which makes their total share of
income 44.1% only. There is a study from fiscal conservative think tank, which splits Canadian
families into 5 parts based on their incomes, in which only one group represents 20% of all
families, saying those in other income-earning category. They pay lower percentage of taxes than
their original share of income. There is also a misperception like top earner of the Canada do not
pay their proper share of taxes but, they pay exceptionally large share of their tax bill said by
study economist Tegan Hill.
 HISTORY OF THE SEARCH
I searched on google about the article containing unbiased reviews on this topic and as a result I
really found great and unbiased reviews from this article.

KEY QUOTATIONS
“The simple key to understand fairness is to compare the share of income earned by each group
to their share of total taxes paid. Hill says, by this unbiased measure, top 20% of income-earning
groups or families will be the only group to pay disproportionate share of the total tax.”

This quote is referring to the solution to generate more tax as compared to the situation at
present. This gives a simple idea how people are hiding their income and giving less tax and the
economy is dependent on the top earners of the society. Hill gave the proper solution to resolve
this problem in the form of simple key quote.

EVALUATE THE USEFULNESS

            This article can be extremely useful in my paper. It has many arguments listed throughout
and it gives the solution to the government for generating tax from the people hiding their
income and show in other income bracket. Also, this article shows how wealthy people are the
major tax payers in the economy of the country.
 
Should wealthy people pay more in taxes?

 
 
 
CITATION
International, O. (2022). Retrieved from

https://www.oxfam.org/en/press-releases/ten-richest-men-double-their-fortunes-pandemic-
while-incomes-99-percent-humanity%5C&usg=AOvVaw36wNd2-
3_SVNba2P1vEoD8

SUMMARY OF THE SOURCE

The world’s top 10 richest men income has doubled since the pandemic has started. The income
of 99% of the people are worse due to COVID-19. This has not happened just by chance, but
choice: Structural policies made for richest and most powerful people have resulted in
“economic violence.” This caused direct harm to all, and the poorest community of people
including women and girls, and racialized groups. It is contributing to the deaths of people at the
rate of one person every four seconds. But we can create equality in our economy by radically
designing it.

 HISTORY OF THE SEARCH

I searched this topic for the Oxfam. I searched Inequality in Tax Paying on the website. I wanted
to analyse the inequality happened in covid-19 pandemic between rich and poor societies.

KEY QUOTATIONS
“World Inequality Lab analysed some figures on December 2021 which reveals that top 1% have
captured 19 time more of the global wealth growth than the whole of the bottom 50% of
population.”

I would like to know about the figure that how much percent of the tax top earner pays
proportionate to the taxes paid by middle class, poor and the poorest communities of the society
according to their incomes and according to their population. I would like to know why
Inequality is now as great as it was in Western Imperialism in early 20th century.

This statement completely contempt the idea of consumption tax and advocates for a progressive
tax and a change in in political institutions because tax rates create inequality. I would like to see
how the social norms could change to reduce this inequality in the society.
Should wealthy people pay more in taxes?

EVALUATE THE USEFULNESS

            This article was especially useful because I came to know about the inequality in the
different classes of society. For example, people paying more taxes are having more problems
due to large share of their income and people living in middle class only must show 20% of their
total family’s income. But on the other side I also came to know about the vaccination black
marketing done by top earners in the market during the time of pandemic.