Monday, April 18, 2016

Flat or Progressive Tax

They always say that the only thing guaranteed in life is death and taxes. There are many types of taxes. America runs on the Progressive Tax system. This system allows people with higher incomes to pay more in taxes compared to people with lower incomes. However, debates rise on whether we should keep this type of tax system alive or if we should adopt the flat tax. Flat tax is a tax rate where it would be all the same to everyone. It means the rich and poor would pay the same rate and we would all be equal. It might sound like a good idea, but I believe that it's a little unfair. If you're a billionaire and you have to pay the same rate as a McDonald's worker, I find it inequitable. People with a lot of money should be able to contribute more to taxes, based on the income they earn. If you are poor and have to pay the same tax rate, it could be disaster for them. A flat tax system would only make the rich richer and poor poorer. Yes, we would all be equal in terms of paying the same tax rate but not we are left with financially when the taxes are paid. This type of system only assumes that everyone will be able to pay the same tax rate. No, not true. The United States should just stick to their roots and keep the Progressive Tax system. We already have enough problems with unemployment and debt in American as of right now that we shouldn't mess with tweaking the tax system. We've had this type of tax system since Abe Lincoln was the President of the United States. It's been established for a LONG TIME! If it isn't broke, don't fix it. Make the rich pay more and the poor pay less. It's only fair.

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