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Flat Rate Taxation

In: Philosophy and Psychology

Submitted By ladybug777
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Flat Rate Taxation

Taxation is a complex and controversial issue. One of the responsibilities of our government is to raise revenue. The easiest and fairest way to do this is through taxation. There is no way to get around that. Every time I look at my paycheck I see that the number of hours I worked multiplied by my hourly wage rate does not equal to the actually amount of pay I receive. Before I even receive my paycheck money has already been deducted for such taxes as FICA, state, federal and local. Week after week I see more of my earnings taken away. I would like to see a tax system in place that has less loopholes, is easier to understand and is fairer to all working Americans.
Our current progressive tax system effectively redistributes income. This means those who earn more pay higher taxes while those who earn less pay less tax. In a way this does seem fair because it closes some of the wealth gaps. The taxes collected by the government are used to fund social programs such as social security, social welfare and public assistance. This is beneficial to struggling families because it allows them to have more money to pay bills and buy necessary products. This system also benefits the wealthy because they have the potential to make more money when the economy is good. Another benefit of the progressive tax system is the continuous flow of money into the economy. A wealthy person will continue to spend money regardless of the amount of money he/she pays in taxes. According to Calvin Wolf “it is better to tax the wealthy more because they can afford to continue stimulating the economy even with a heavy tax burden; this helps the economy function more effectively. Poor people, who cannot handle a heavy tax burden, should be freed up to spend as much of their money in the consumer economy as possible. (Wolf C. , 2013) On the other hand this...

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