Progressive and Regressive taxes are based on income. Progressive taxes are where the more money you make the more money you pay in taxes.Progressive taxes hurt the high-income people. Regressive taxes on the other hand, take a larger amount of taxes from the low-income than people that have a higher income. This affects the low-income more. (pg. 444 Edwards) An example of a progressive tax would be Income tax. An example of a Regressive tax would be Social Security.
I don't believe regressive taxes are fair because they place a larger economical burden on those who already are struggling financially. While I agree that many people work hard to reach such an affluent level, I still think a progressive tax is most fitting. Those who make the most should be taxed the highest because they are more likely to be able to take the higher burden and still be able to live an austere standard of living, and in many cases, better than austere.
While I see your point, I actually believe that both progressive taxes and regressive taxes are both unfair. Progressive taxes, as Emily said, are when the more upper income groups pay in more taxes, or a higher percentage of taxes. Regressive taxes take more money from lower income groups, which another example of this that Emily didn't have was the sales tax. Both of these taxes target and hurt specific classes, and we should be more focused on keeping taxes equal for all, instead taxing the wealthy more, as most of them worked hard to earn their money and shouldn't have to pay for the unemployed. However this doesn't mean we should tax the lower class more, because as Blake said, they are already struggling and don't need the extra tax burden. I propose that a flat tax would be best, because that has an equal tax percentage rate set for all classes, and is the most fair way of taxing.
Progressive and Regressive taxes are based on income. Progressive taxes are where the more money you make the more money you pay in taxes.Progressive taxes hurt the high-income people. Regressive taxes on the other hand, take a larger amount of taxes from the low-income than people that have a higher income. This affects the low-income more. (pg. 444 Edwards) An example of a progressive tax would be Income tax. An example of a Regressive tax would be Social Security.
ReplyDeleteI don't believe regressive taxes are fair because they place a larger economical burden on those who already are struggling financially. While I agree that many people work hard to reach such an affluent level, I still think a progressive tax is most fitting. Those who make the most should be taxed the highest because they are more likely to be able to take the higher burden and still be able to live an austere standard of living, and in many cases, better than austere.
ReplyDeleteWhile I see your point, I actually believe that both progressive taxes and regressive taxes are both unfair. Progressive taxes, as Emily said, are when the more upper income groups pay in more taxes, or a higher percentage of taxes. Regressive taxes take more money from lower income groups, which another example of this that Emily didn't have was the sales tax. Both of these taxes target and hurt specific classes, and we should be more focused on keeping taxes equal for all, instead taxing the wealthy more, as most of them worked hard to earn their money and shouldn't have to pay for the unemployed. However this doesn't mean we should tax the lower class more, because as Blake said, they are already struggling and don't need the extra tax burden. I propose that a flat tax would be best, because that has an equal tax percentage rate set for all classes, and is the most fair way of taxing.
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