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OfflineEllis Dee
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Taxes, Progressive VS. Regressive
    #369692 - 08/10/01 07:48 AM (15 years, 4 months ago)

This thread is sort of a 'spinoff' of Invertigo's thread titled 'Income Tax checks!!' In that thread I made a comment on the progressiveness of our income tax system. Invertigo opposes progressive taxes. He would prefer a system in which there are only regressive sales taxes. He also favors a tax scheme in which everyones taxes are levied at the same percentage rate.

In reply to:

Posted by Invertigo:
great another classic give away to those who don't pay a dime into the tax system. These Socialist programs of "everyon'e equal" is bullshit. I may be equal in human terms but when it comes to tax breaks i think Bill gates deserves a higher percentage back. Why is this so hard to understand?








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"If the foundations be destroyed, what can the righteous do."-King Solomon

And there was war in heaven: Michael and his angels fought against the dragon; and the dragon fought and his angels,


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OfflineEllis Dee
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Registered: 06/30/01
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Last seen: 1 day, 9 hours
Re: Taxes, Progressive VS. Regressive [Re: Ellis Dee]
    #369698 - 08/10/01 08:06 AM (15 years, 4 months ago)

Progressive taxes are based on the ability to pay. Income taxes are progressive taxes, the higher the income and ability to pay, the higher the tax rate. The income tax is levied on the income of individuals and corporations both (often the corporate tax rates are uniform).

The progressive income tax system is a basic principle of our current federal income tax system. In 1917 and 1918 the income tax first became a major source federal revinue. And except for a few years during the depression it has remained the main source of federal revinue. It was decided at the inception of the income tax that for the sake of fairness that those that could afford to pay more would.

Regressive taxes are levied at a flat rate, without regard to the level of a taxpayers's income or ability to pay them.

Examples of regressive taxes are our social insurance taxes for OASDI, medicare, and unemployment compensation.

The sales tax is a widely used, mostly local tax. A tax is placed on the sale of things. It is paid by the buyer of things and not the manufacturer or seller. It is not levied on corporations.

The sales tax is a regressive tax which is the same for all people and not based on the ability to pay. Therefore it falls most heavily on those with lower incomes.

The main reason that sales taxes are so widely used is that is that it is so easy to collect. The other reason is that it is a fairly reliable revinue obtainer.

Edited by Rail_Gun on 08/10/01 07:09 AM.



--------------------
"If the foundations be destroyed, what can the righteous do."-King Solomon

And there was war in heaven: Michael and his angels fought against the dragon; and the dragon fought and his angels,


Post Extras: Print Post  Remind Me! Notify Moderator
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