Should the USA Lower, Raise or Maintain Its Corporate Tax Rates - Assignment Example

Despite being the richest country in the world, the United States lags behind in welfare and social security features.
The revenues collected through a progressive tax regime can be utilized to strengthen the public healthcare system. As it stands, the United States has more than 50 million citizens without health insurance. This is a shocking statistic, for with only a fraction of the yearly military budget, health access and healthcare outcomes in the country could be improved multifold. In a similar vein, channeling a portion of corporate revenues toward strengthening our healthcare system will pay rich social dividends.

Much of the criticism directed at welfare programs like Medicaid, Medicare and social security is misplaced. Existing welfare programs are a godsend for those Americans belonging to the lowest strata of American society. They should not be criticized for being a drain on the economy. On the contrary, it is corporations that own substantial resources and yet act without social or environmental responsibility. It is only fair that corporations are taxed more as reparation for the damage they chronically cause to society and the environment.