To what extent should high income earners be taxed more than low income earners?
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Anyway the choice to make tax returns public or not is not viewed as such a burning issue as tax equity. There are an infinite number of possible tax policies. Government could tax everyone a specific amount of money, for instance, $ 1000, regardless of their income, bit that seems to be a policy that would lead to regression in the society as well as in the economics. It is an unequal and unfair path. Other ways to levy taxes seem to be more reliable, but still differ from each other. There are two major methods of taxing residents that are wide used in the world. Both of them tend to impose higher taxes on those who earn more. Most developed countries choose to adopt the progressive tax system that is viewed by many as the most effective and therefore preferable way to bring benefits both to the economics and the society. This system implies that high income residents are levied more heavily according to their income. Generally, those who earn more pay higher tax rates. This essay will discuss and show why the progressive tax system, in which high income taxpayers pay higher tax rates, is better than the flat one, where the tax rate in percentage ratio is the same…ПоказатьСвернуть
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