Nothing in this world is free and to live in a great country like the U.S., there comes a price. That price is taxes. We all dread them, most likely because of the big deduction from our paychecks, but taxes are an accepted part of life.

In the U.S. we live in a democracy with a free market system. It is the American dream that draws people to immigrate to this country, but the result of this system is that the rich get richer and the poor get poorer.

According to a BBC News report, a group of wealthy Germans have started a petition recommending that their government raise taxes on the rich in order to fund economic and social programs.

Their plan is for the richest people to pay a five percent wealth tax, and according to Dieter Lehmkuhl, the brains behind the operation, 2.2 million people have a fortune of more than 500,000 Euros. That equates to approximately $750,000 in U.S. currency.

This is without a doubt a great idea because it will give the government more money to invest in the future and welfare of its residents. It will also encourage other countries to follow suit and ease the pain of one of the worse recessions this world has ever seen.

If that cluster of upper class citizens feel like they do not need a lot of the money they have and they want to use it to benefit the country, why can’t Americans do the same?

Illustration by Jon Harguindeguy/For the Daily Titan

According to a CNN Money report, 9.2 million Americans had a wealth of $1 million or more in 2007. Even though that number has likely changed over the years, it is still an incredibly large number.

Someone in the U.S. needs to step up and take action. If this country’s wealthy elite were generous with their money to request higher taxes for the upper class, this country would definitely prosper from their kindness.

The main goal of the rich should not be to buy another summer home in the Hamptons but to aid the less fortunate by paying more taxes which will go to social aid programs.

The wealthy should volunteer to pay more taxes to benefit the country as a whole, whether it is for economic or social purposes.

It will improve the country tremendously, and it should start with more money for education and health care.

Even though the wealthy often donate to charities, they also receive tax deductions. While it is for a good cause, the wealthy are getting tax relief from their donations, it does not help the government dig itself out of this financial downturn.

Rich people in the U.S. need to follow this proposed German wealth-tax model. The gap between the upper and lower class is getting wider every day, especially with the unemployment rate nearing 10 percent nationwide.

According to the Census Bureau, one out of every six Americans live below the poverty line, that equates to approximately 47.4 million people. It is obvious that many Americans need help, and that is when the role of the upper class becomes one of significance.

Nevertheless, a wealth tax on the upper class should not stop in just Germany and the U.S., many countries with rich inhabitants need to provide more tax money to the government.

A tax increase on the wealthy will bring more jobs, more federal aid and help stabilize the economy and potentially help those who need it most.