Progressive Taxation
Progressive Taxation
Saj
October 23, 2012 The Common Sense Party supports a light progressive taxation tax plan which gives low income and middle class earners a chance to save more money to spend on their bills and necessities. We believe that higher income individual earners have more money to spend on bills and necessities with a larger sum left over for savings than a low income earner or a middle class earner. However we do not believe in overtaxing high income earners to the point that people are discouraged of taking high income jobs. The Common Sense Party also believes that a light progressive tax system is fair to all income earners and it supports the middle class which is important to what makes America.
What is a Progressive Tax?
Progressive taxes are taxes that increase as income of an individual or family’s income increase. Progressive taxes are adjusted according to the income group’s ability to pay, for example a regressive tax unfairly taxes the low income groups at 35% of their income. If they only earned $15k a year, they would only make $10 to pay their bills, low income groups would not be able to afford the cost of living or food and pay their bills, and there would be more homeless. That’s why a progressive tax gives every income group an opportunity to pay what their able to, their fair share. “For example, taxes for a family with an income of $20k are 20 percent of the income and taxes for a family with an income of $200,000 are 30 percent of income, then the tax structure over that range of incomes is progressive” 1. Progressive taxes allow the government to have a proper role in taxation without eliminating any income group’s ability to pursue the American dream. It is only fair that Americans help support each other and treat each class with the dignity they deserve. Progressive taxation allows Americans to pay their part of the tax burden they can afford according to their income group. Progressive taxation is one way to
Saj
October 23, 2012 The Common Sense Party supports a light progressive taxation tax plan which gives low income and middle class earners a chance to save more money to spend on their bills and necessities. We believe that higher income individual earners have more money to spend on bills and necessities with a larger sum left over for savings than a low income earner or a middle class earner. However we do not believe in overtaxing high income earners to the point that people are discouraged of taking high income jobs. The Common Sense Party also believes that a light progressive tax system is fair to all income earners and it supports the middle class which is important to what makes America.
What is a Progressive Tax?
Progressive taxes are taxes that increase as income of an individual or family’s income increase. Progressive taxes are adjusted according to the income group’s ability to pay, for example a regressive tax unfairly taxes the low income groups at 35% of their income. If they only earned $15k a year, they would only make $10 to pay their bills, low income groups would not be able to afford the cost of living or food and pay their bills, and there would be more homeless. That’s why a progressive tax gives every income group an opportunity to pay what their able to, their fair share. “For example, taxes for a family with an income of $20k are 20 percent of the income and taxes for a family with an income of $200,000 are 30 percent of income, then the tax structure over that range of incomes is progressive” 1. Progressive taxes allow the government to have a proper role in taxation without eliminating any income group’s ability to pursue the American dream. It is only fair that Americans help support each other and treat each class with the dignity they deserve. Progressive taxation allows Americans to pay their part of the tax burden they can afford according to their income group. Progressive taxation is one way to