Question

discussion : Some have proposed a proportional, as opposed to progressive, federal income tax. What do...

discussion : Some have proposed a proportional, as opposed to progressive, federal income tax. What do you think of this idea?

Homework Answers

Answer #1

The idea would be better off if there is a high amount of income equality in the country but with the United States condition moving more towards unequal income levels, it is very important to understand that Income inequality should be reduced so that all people rise equally towards higher living standards as a result of which progressive taxation is one important tool in promoting that idea. That is the reason why proportional tax is not a better idea especially with the current level of income inequality in the United States

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
What is meant by progressive tax? A regressive Tax? A proportional tax? Comment on the progressivity...
What is meant by progressive tax? A regressive Tax? A proportional tax? Comment on the progressivity or regressively of each of the following taxes, indicating in each case where you think the tax incidence lies: (a) the federal personal income tax, (b) a 4 percent state general sales tax, (c) a federal excise tax on automobile tires, (d) a municipal property tax on real estate, (e)’ the federal corporate income tax, (f) the portion of the payroll tax levied on...
IsThe income tax system for this country is? Progressive, Regressive or Proportional?
IsThe income tax system for this country is? Progressive, Regressive or Proportional?
The income tax system of the United States is a progressive tax system for individual taxpayers....
The income tax system of the United States is a progressive tax system for individual taxpayers. Whereas corporations pay a flat 21% (proportional income tax system). What surprised you about the tax system in the United States? What experience, if any, do you have with taxation in the United States? As adults, I am sure you are subject to some of the taxes mentioned in the chapter. Lastly, in two or three sentences, discuss any tax-related issue currently in the...
We have progressive income tax structure. Are you for it or against it? Give your argument...
We have progressive income tax structure. Are you for it or against it? Give your argument why do you think so?
Is the personal income tax in the United States progressive, regressive, or proprotional? How do you...
Is the personal income tax in the United States progressive, regressive, or proprotional? How do you know? Why do you think the tax was designed this way?
what is a progressive income tax system and what is one way that an income tax...
what is a progressive income tax system and what is one way that an income tax system may be structured so that it can be progressive
Kingston Co. needs to determine the federal income tax effect of a proposed acquisition of a...
Kingston Co. needs to determine the federal income tax effect of a proposed acquisition of a business asset this year. What would be the MOST authoritative source of the following to check for federal income tax?                        a. Revenue Procedure.                        b. Most recent tax court case.                        c. Treasury Final Regulations
250 WORDS Keeping in mind the federal income tax legislation process, do you think it is...
250 WORDS Keeping in mind the federal income tax legislation process, do you think it is fair that some fringe benefits are not taxed? How has the new Tax Cuts and Jobs Act (TCJA) affected the fringe benefits allowed/disallowed?
Do you think the Federal Income Tax Code is fair or unfair to you personally or...
Do you think the Federal Income Tax Code is fair or unfair to you personally or to society in general?
1-Why do some home-owners hope for inflation? 2-According to Keynesians, when should the federal government run...
1-Why do some home-owners hope for inflation? 2-According to Keynesians, when should the federal government run a deficit and when should it run a surplus? 3-Is the tax imposed on cigarettes progressive, proportional or regressive? 4-How could a greater fiscal deficit create a greater trade deficit?
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT