The Risk of Taxing the Rich

Today in America the gap between the upper and lower classes is widening. Today, "the top 300,000 income earners in America now make more than the bottom 150 million combined" (John Edwards). North Carolina Sen. John Edwards released a plan to raise taxes on the rich and cut them for the middle class. This is a very risky move today because the power in this country lies in the hands of the rich. But as income inequality has become a major issue in this country and is now too important to ignore. The middle class is vital to our society and it is depleating rapidly. By shifting some of the tax burdens to the rich the lower classes will recieve some much needed relief. The upper class may argue taht they already pay too high of a percentage but that is their responsibility. In 2005 the richest 1% of Americans earned 21.2 % of all income up from 19% in 2004. This number is rediculas and will continue to go up. The government needs to step in and fight for the middle class and give them tax relief instead of those who make over 250,000 like what Bush did.