Can you believe that only 8.8% of grant money goes toward communities of colour? Where does 91.2% of the money go toward? In Hasan Minhaj’s speech, he mentions that the rich pay less income, estate, and capital gain tax compared to an average-income earner. That being said, I believe in the vision of equity for low-income earners and middle-income earners. My value is that we should prioritize low-income families. This could be assisting them through food banks, daycare for their children, or a safe place to stay when times are rough. In order to achieve this, this means that higher-income earners should pay more wealth tax and capital tax. Interventions such as donor-advised funds should be changed so that individuals can no longer obtain the immediate tax write-off when donating money.
Hi Cindy, I clicked on this post because of the Elon Musk photo lol. While we should aim toward increased taxation of the wealthy, it's important to note that many of these people (such as Elon Musk) are wealthy on paper due to paper gains on stocks and options, and not usually cash rich. The US government is proposing taxing unrealized gains, which is highly controversial topic. Personally, I think that the banking system and lending system needs massive reform compared to activities on the stock market.
Yes! There must be more social safety nets for those that find themselves unable to fully support themselves. Just because someone is low-income shouldn't mean they have to give up fundamental needs and services.
Hi, Cindy. Yes! From my perspective, the rich are paying much less tax than they should have to, and they are trying to avoid paying the tax by switching nationality, changing locations of their companies. They are using every possible method to prevent themselves from taking social responsibility. As a result, we need to let them pay the tax using administrative tools or directly fining them for avoid tax, if possible. Moreover, the laws that charge more on the rich should be implanted and the tax on the poor could be reduced to some extent to achieve a better standard of social equity.
I agree with your value of prioritizing low-income families, rather than making the rich richer. The rich should not have access to evade these taxes.
Very interesting points.
I think people's mentality will change, right now you may have no income, or very little income to even think about paying taxes, so people like us can say 'tax the rich higher! But what if one day we really become 'rich', or middle to high-income earners, and we work hard for a month and get our paycheck, and one of the first figures is an objective six figures, but when you look backward, you will find that the relentless taxation makes you feel unbearably bad, and you are still very 'rich', but you could totally get 'richer'.
hi Cindy, thank you for your attractive image. Equality is a repeated topic that we all hope for, even with round-and-round reforms, laws, and policies. There is still high inequality between rich and poor, I totally agree with you that donations should be willingly and selfless instead of a way to evade tax. That means people whole participate in philanthropy also should pay their corresponding taxes.
I really like your straightforwardness. To achieve the target, billionairs should not have so many methods to avoid or evade tax. All they need to do is pay more taxes and make their donations transparent. These donations can be regulated by the public.
Hi Cindy,
Amazing post! It's surprising to learn that so little grant money goes towards communities of colour, and honestly pretty upsetting too. We definitely need to focus more on the lower income communities and alter the existing donor-advised funds so those who have the luxury of wealth can really help those in need.
Hi Cindy- I love your idea of donor-advised funds being changed, that was really shocking for me to learn about this past week.
I agree poor people should be helped
Hi Cindy! I'm always in support of equity and the examples you portrayed are completely achievable. TAX THE RICH!! No more loop holes for the rich either! The trickle-down effect doesn't work; we have to think more realistically.
I really like your ideas for prioritizing low-income families! And yes, we need to tax the rich more heavily!
Higher-income earners should definitely be heavily taxed!
Your ideas are so relatable!
Great post Cindy! It's so frustrating how much power money gives people.
I really like the ideas you shared. I also think the donor advised funds need to be more regulated and are important.
I really like how you addressed the issue of wealth inequality and provided solutions. It was quite eye-opening to see how grant money is distributed. Great post!
Hi Cindy! I loved reading your interventions and also really liked how you brought up the topic of the donor-advised funds. I agree with you and Hasan that we should be taxing that ass 100% with regards to rich people, including Batman HAHA
Yes Cindy! Tax the rich!!!!!!
Great Caption! Super engaging, and very impactful. I think it is so so so important to recognize the clear divide between high-income earners and those who earn less.