The Flat Tax System In The United States

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The freedom of our land brings with it the freedom to disagree. Tax policy is one of the most highly debated topics in modern politics, and its roots date back to the founding of our nation. The average American’s quality of life is greatly dependent on the net income of a household. The tax system in our federal government affects every citizen in the United States because it takes money out of everyone’s pockets. The general trend is that a higher tax rate equates to a more restricted budget for many Americans. In the 2008 economic crash, many Americans lost their retirement savings, and their children’s college funds are at a low. A higher income tax allows the federal government to provide services for its citizens, and it is the…show more content…
The flat tax is a system in which all citizens and businesses pay the same percentage of their income as tax regardless of what the income may be. The most notable nation using the flat tax today is Russia. A progressive tax is used in our nation today; it is a system in which citizens and businesses are placed in tax brackets based on income. The higher the income of an individual, the greater the tax rate placed upon them. There are many different types of progressive tax systems around the world because the range of tax brackets varies. In the United States, the lowest income tax bracket is fifteen percent for unmarried individuals; in order to qualify for this bracket, these citizens must earn less than $22,100 annually. The highest tax bracket for unmarried individuals is thirty-nine percent which is paid by those who earn more than $250,000 annually. The progressive tax system also allows for large corporations to be taxed at a different rate than actual people. The current corporate tax code in the United States implements a progressive system which taxes a maximum of thirty-five percent for corporations earning more than $10,000,000 annually. The wealth disparity in the United States is astonishing. The wealthiest ten percent of Americans hold over sixty percent of this nation’s wealth. This means that the rich can afford to pay a greater percentage of their income as taxes because they do not face the financial struggles a majority of Americans do

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