Progressive Income Tax: The Tax Policy America Needs
Date
2018
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Department of English and Writing, The University of Tampa
Abstract
Income tax has enormous implications on many aspects of American
life. It is the main source of the government’s revenue and it dictates
how much money will be deducted from every worker’s income. There has
been a recent movement for a flat tax regime to take over the current progressive
United States income tax code, especially by members of the Republican
Party. This paper uses secondary research and evidence from private research
institutions, such as the Tax Foundation and the Tax Policy Center, and government
publications, such as IRS data and the federal budget from the Office
of Management and Budget to argue that the progressive income tax code,
with some improvements such as fixing loopholes and introducing a new tax
rate for the super-rich, proves to be better than a flat income tax in the areas
of tax revenue collection, reversing income inequality, and providing useful
tax incentives. The results found prove that a progressive income tax, with
modifications, is the best income tax policy for the United States and a flat
income tax would be detrimental to the United States economy and the intrinsic
values that American citizens hold dear.
Description
Recommended Citation: Oakes, Nicholas. “Progressive Income Tax: The Tax Policy America Needs.” Royal Road, 2018. https://doi.org/10.48497/6PW4-YG02.
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Keywords
United States, IRS, Internal Revenue Service, Progressive taxation, Income tax
Citation
Oakes, Nicholas. “Progressive Income Tax: The Tax Policy America Needs.” Royal Road, 2018. https://doi.org/10.48497/6PW4-YG02.