Now that you have had a chance to think about tax systems which type do you prefer – progressive, flat tax, income, consumption – there are quite a few possibilities. How do you think the concept of equity or fairness fits into a tax system?
At first i liked the idea of a progressive tax because i felt like people who make more should pay more. But as i read on i realized that they end up paying a higher percentage of their income as well. So, now i prefer the flat tax where everyone pays the same percentage. People with higher incomes are still paying more in taxes but the same percentage so there is no burden on making more money. The concept of equity fits into a tax system because we have to figure who bares the burden of taxes and how those revenues are divided. I like the example of gasoline taxes going to road maintenance because the people who drive on the roads more will be paying more in gasoline taxes- a benefit principle. i think a proportional income tax seems most equitable in that people are paying the same percentage so people who make more still pay more but not an unfair amount more.
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