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Debate to raise taxes on the rich

By John Wharton

Tax the Rich debate

Incomes in the world have never been more unequal. At the start of the recent financial crisis in 2008, the bottom 90 percent of the US population had just 52 percent of the national wealth. But today, that number has fallen to less than half, just 49.6 percent. Clearly the rich are getting richer while the rest are falling behind. Is this the normal result of globalization or is this the privileged rigging the system?

Debate on taxing the rich
Sat, Jan 18, 7pm
Shelter Theater
Vicente Guerrero 4
Col. San Rafael
50 pesos

For some, the answer is obvious: redistribute the wealth of the top income earners who have enjoyed, for almost a generation, the lion’s share of all income gains. Imposing higher taxes on the wealthy is the best way for countries to reinvest in their social safety nets, education and infrastructure while protecting the middle class. Others argue that anemic economic growth, not income inequality, is the real problem facing advanced countries. In a globalized economy, raising taxes on society’s wealth creators leads to capital flight, falling government revenues, and less money for the poor. These same voices contend that lowering taxes on everyone stimulates innovation and investment, fueling future prosperity.

Find out what the world’s top economists and politicians have to say as Nobel-prize winning economist Paul Krugman confronts former House Speaker Newt Gingrich to debate the question, “Should the rich be taxed more?” with former Greek prime minister Georg Papandreaou and the father of supply-side economics, Prof. Arthur Laffer.

The 2013 “Munk Debate” will be shown at Shelter Theater, Saturday, January 18 at 7pm and is sponsored by Purple Solutions Forum, a local non-partisan group hosting discussions and events on current issues. After the debate, a discussion will be held and audience votes tallied to see how San Miguel feels on the issue and whether the debate changed minds. Tickets are 50 pesos at the door, opens at 6:30pm. Reservations recommended.


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