can taxing the rich reduce income inequalitiesWatch
I really need some help on coming up with some arguments for my EPQ
also what do you think of the title
"Does higher taxation of the rich as a form of wealth redistribution, successfully reduce financial inequality?"
My advice for you if you pick this topic is to be careful of bias, it might sound obvious but this is a contentious debate with strong statistics and opinions on either side, something someone marking this piece would be looking for. Hope that I have been of some help, let me know if you have any other questions.
[thanks for this definitely a better title which i will use and i will definitely try to keep the argument balanced. i was just wondering do you think i should talk about different types of tax e.g. income, inheritance, stamp duty
You're obviously going to want to make a distinction between regressive and progressive taxes - perhaps you could even make the argument that regressive taxes increase social inequality.
I'd also like to write about how the very wealthy have incentives to evade taxes by sheltering their wealth in tax havens. Perhaps you could make the argument that a moderately high tax rate (where the social incentives for paying taxes outweigh the financial incentives for evading taxes) is better at reducing inequality than a very high tax rate (where the financial incentives outweigh the social incentives.)
As an example, you could look at the recent events in France where, under a socialist government, taxes have spiked, there has been a mass exodus of wealth and social inequality has been increased.