Sunday, April 17, 2016

Taxes.....Flat Rates VS. Progressive Rates

Is a flat tax better than a progressive tax is a big question when it comes to talking about taxes and what each person should have to pay? Some people think that a flat tax for all people would be the fairest way for the government to get money and keep people happy. Others believe that a progressive tax is the correct way to go because then they feel it is more fair because they get to see the rich people who make a lot more money than them, having to pay more than those of the lower class who don’t make near as much money.


An example from this article that I got was that if a person who makes $100,000 pays a twenty percent flat tax rate, and then they would end up paying $20,000, compared to someone who makes $50,000 would then have to pay that same flat rate of twenty percent, and then they would end up only having to pay $10,000. A lot of people think this is the fairest way to do it. Some people feel that everyone should have to pay the exact same rate. I see their point and I do agree that a flat rate would be the fairest way for all of the people when it comes to paying taxes. But yet at the same time, others still think this is “not fair” because they feel it affects the lower class more than it does the upper class. A flat tax rate would also make things so much easier when it comes to tax season because it would take away things like the deductions, and exemptions that we have right now with our taxing system. With this straight up flat tax idea, things would be a lot easier, and would help people to figure how much they would have to pay for their taxes because now they know that it is just a simple, fixed flat rate without having to worry about all those penalties, deductions, exemptions and etc.