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Topic: Progressive income tax


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  Income tax article - Income tax income flat progressive corporation History income in UK History - What-Means.com   (Site not responding. Last check: 2007-10-22)
Income tax is a direct tax which is levied on the income of private individuals.
Income tax was first introduced in Britain by William Pitt the Younger in his budget of December 1798.
Income tax was reintroduced by Addington in 1803 when hostilities recommenced, but it was again abolished in 1816, one year after the Battle of Waterloo.
www.what-means.com /encyclopedia/Income_tax   (853 words)

  
 Progressive tax
A progressive tax, or graduated tax, is a tax that is larger as a percentage of income for those with larger incomes.
For example, in the United States as of 2004 there are six "tax brackets" that are used to calculate the percentage of income that must be paid as income tax to the federal government.
Tax incidence refers what group ultimately bears the burden of a tax (for example, sales taxes, which are nominally applied to businesses, are passed through to consumers as higher prices), and can measure the effective progressivity of a tax by income group as well as breaking the impact down by geographic area or other factors.
www.brainyencyclopedia.com /encyclopedia/p/pr/progressive_tax.html   (762 words)

  
 Encyclopedia: Progressive tax
A progressive tax is an automatic stabilizer in the sense that if a person were to suffer a decrease in wages due to a recession then the money regained by being in a lower tax bracket lessens this blow.
High progressive taxes may encourage emigration because taxes are not internationally harmonized, so very high earners are sometimes able to relocate in order to pay less tax, or find tax havens for their income.
Tax neutrality refers to whether similar things are taxed in similar ways; if for example taxes on gasoline and diesel are different then this will probably lead to a distortion in demand between the two fuels.
www.nationmaster.com /encyclopedia/Progressive-tax   (4857 words)

  
 Income tax - Wikipedia, the free encyclopedia
The income tax was first introduced in Britain by William Pitt the Younger in his budget of December 1798 to pay for weapons and equipment in preparation for the Napoleonic wars.
Originally it taxed a person's income regardless of who was beneficially entitled to that income, but now a person only owes tax on income to which he or she is beneficially entitled.
It was thought that head taxes and property taxes (slaves could be taxed as either or both) were likely to be abused, and that they bore no relation to the activities in which the federal government had a legitimate interest.
en.wikipedia.org /wiki/Income_tax   (2548 words)

  
 Negative income tax - Wikipedia, the free encyclopedia
A negative income tax would replace the current progressive income tax system used throughout most of the western world.
The negative income tax has come up in one form or another in Congress, but Friedman opposed it because it came packaged with other undesirable elements antithetical to the efficacy of the negative income tax.
Some critics of the negative income tax contend that, in effect, such a scheme is a subsidy given to employers of low-qualified jobs, absolving them of the responsibility to adequately pay their workers.
en.wikipedia.org /wiki/Negative_income_tax   (683 words)

  
 Progressive tax -- Facts, Info, and Encyclopedia article   (Site not responding. Last check: 2007-10-22)
A progressive tax, or graduated tax, is a (Charge against a citizen's person or property or activity for the support of government) tax that is larger as a (A proportion multiplied by 100) percentage of (The financial gain (earned or unearned) accruing over a given period of time) income for those with larger incomes.
It is usually applied in reference to (A personal tax levied on annual income) income taxes, where people with more income pay a higher percentage of it in taxes.
The rate of tax can be expressed in two different ways, the marginal rate expressed as the rate on each additional piece of income and the average rate expressed as the total tax paid divided by total income.
www.absoluteastronomy.com /encyclopedia/p/pr/progressive_tax.htm   (1118 words)

  
 Tribal Messenger - Flat tax and income tax   (Site not responding. Last check: 2007-10-22)
This country first passed an income tax in 1862 under the direction of  President Lincoln (R) to pay the extraordinary expenses of the Civil War, and it was rescinded by vote in 1872.
At the beginning, the income tax applied only to the rich: 99 percent of the population was exempt.
The income tax is a way to balance the wealth of our country which guarantees the health of our economy and our society as all citizens experience the benefits of living in a wealthy country.
www.tribalmessenger.org /headlines/2-19-02-flat-tax-debate.htm   (877 words)

  
 The Progressive Income Tax - Progressive Theft   (Site not responding. Last check: 2007-10-22)
These "reasons" for the progressive income tax all have as their basis the idea that somehow it is the government that really owns what the "rich" have earned (or perhaps the government owns the people - "rich", "poor, and in between?), and thus can take whatever it chooses from the "rich".
One of the stranger illusions that advocates of the progressive income tax seem to hold is that the "rich" will not adjust their economic activities in the face of punitive taxes.
The progressive income tax itself doesn’t accomplish its role of transferring wealth, while its unintended (hopefully) consequence, a hostile climate for business and investment, is harmful to society.
home.earthlink.net /~bkwormtoo/id34.html   (1361 words)

  
 Taxwisdom Home Page   (Site not responding. Last check: 2007-10-22)
If all of that income were taxed at a 99% rate, he would be forced to somehow get by on 1% of a billion dollars, or $10,000,000.
Tax cut enthusiasts like to refer to tax cuts as though the incomes of other people are not dependent on the money that would be returned to taxpayers.
If, instead of lobbying for tax cuts, they were to give their political support to the idea of taxing themselves more, they would be able to put money into the hands of the government that could then be used to improve the quality-of-life that they experience as Americans.
www.taxwisdom.org   (11091 words)

  
 "Progressive" Income Tax--Destructive Socialist Misnomer--Debate Handbook   (Site not responding. Last check: 2007-10-22)
A single taxpayer was only subject to a tax on income over $3,000 per year--an amount that far exceeded the average family income at the time, and the equivalent to a six figure income today--while the first $4,000 was exempt for the married couple.
Before any Tax Bill may be adopted, spokesmen for almost every conceivable special or definable interest rush to Washington in pursuit of special "breaks," concessions or what have you; the quest of each, to enable a particular interest group to escape the full or at least some of the effects of the severe rates.
The traditional tax policy of the age of interventionism, its glorified devices of progressive taxation and lavish spending have been carried to a point at which their absurdity can no longer be concealed.
pages.prodigy.net /krtq73aa/taxes.htm   (4565 words)

  
 Online special: Molly Ivins
You may wonder where you were while all this was being debated, but in fact, we never had a national debate on whether we wanted to scrap the progressive income tax; it was done quietly and in the name of other concerns.
This country first passed an income tax in 1862 to pay the extraordinary expenses of the Civil War, and it was allowed to lapse in 1872.
The tax was riddled with exemptions from the beginning, and the rich quickly moved to shelter their income from it.
www.chron.com /content/chronicle/editorial/98/03/27/ivins.html   (696 words)

  
 Progressive Bolivian Income Tax Stopped by Angry Mobs by John Leo Keenan
Bolivia has plenty of federal and local taxes but it is one of the few places without a national income tax.
Much of the public here is identifying the progressive income tax with "neoliberal" policies imposed by the IMF, while in their mind the president is considered to be in cahoots with the IMF and other imperialists.
But after this horrific confrontation, I think the progressive income tax movement will be history in Bolivia for a long time to come; politicians know now that it would be self-destructive to try to impose that tax on those who can barely make ends meet; such citizens are scot-free now and for good.
www.lewrockwell.com /orig3/keenan1.html   (1455 words)

  
 NCPA - Daily Policy Digest - Overhauling Ohio's Progressive Income Tax
Its highly progressive tax system slows economic growth, say economists, because each dollar of additional income is taxed at higher marginal rate, discouraging additional work and investment.
Progressivity increases the volatility of Ohio's income tax revenue.
Compress the marginal tax rate structure by reducing the number of brackets or reducing the spread between the top and bottom tax rates.
www.ncpa.org /iss/tax/2003/pd042103e.html   (248 words)

  
 The Oakland Press: Opinions: Just fix the tax system, don't cut its heart out
The enactment of a progressive federal income tax, in 1913 under President Wilson, culminated a long and often bitterly contested reform movement.
The reformers believed that individuals ought to be taxed according to their ability to pay, and that individual taxes ought to be based on a person's total income - investment income as well as wages and salaries.
The adoption of progressive taxes at the federal level - with some rates aimed at the wealthy - was expected to help correct for the regressive elements.
www.theoaklandpress.com /stories/120604/opi_20041206006.shtml   (683 words)

  
 [E] - Back to Basics : The Income Tax's Progressive Roots (by Jonathan Rowe)
One argument against a tax shift is that the change would violate the spirit of the progressive income tax.
If Congress kept the income tax for higher incomes and shifted part of the rest to polluting natural resources, the result would be the kind of system that early advocates of the income tax intended.
The income tax grew out of decades of turmoil as the U.S. evolved from an agrarian economy to an urban one in the years before World War I. Robber barons still rode high.
www.emagazine.com /march-april_1999/0399feat1sb2.html   (554 words)

  
 Progressive Corporate Income Tax- American Independent Business Alliance AMIBA
Armies of corporate lobbyists, tax attorneys, and accountants have won new laws and mined the existing tax code for clever deductions and tax credits that have dramatically reduced the tax rate of America 's largest businesses.
The nation's corporations were estimated to pay less than15 percent of their net income in federal taxes last year, according to Citizens for Tax Justice, a widely respected non-partisan research organization.
The American personal income tax is a progressive system that taxes those with the highest incomes at the highest rates.
www.amiba.net /pressroom/progressive_corporate_income_tax_2.13.04.html   (821 words)

  
 VoteMatch: Make Income Tax Flatter & Lower
Already, 98 percent of descendants avoid taxes altogether because the first $675,000 of an estate is exempt from taxation, an exemption that is due to rise to $1 million by 2006 under current law.
The ‘Capital Gains Tax’ is a separate income tax (with a marginal rate of 20%) which applies when goods that have gone up in value are sold.
In the summer of 2001, a $1.3 trillion tax cut was passed at the urging of President Bush.
www.issues2000.org /VoteMatch/q14.asp   (868 words)

  
 What's Wrong with the Progressive Income Tax? [Mackinac Center for Public Policy]
The income tax system has come a long way since its adoption in 1913, becoming far more burdensome and incom-prehensible than its originators ever dreamed possible.
Fear and loathing of today’s IRS and disgust with an incomprehensible federal tax code has prompted a debate over the federal income tax that is sure to heat up as next year’s presidential campaign approaches.
The size and complexity of the progressive income tax, its pervasiveness, and its susceptibility to political manipulation make it one of the most dramatic political and economic changes to have occurred in the twentieth century.
www.mackinac.org /article.asp?ID=1706   (794 words)

  
 SSRN-Is the Optimal Labor Income Tax Progressive in a Unionized Economy? by Thomas Aronsson, Tomas Sjogren
The purpose is to study the determinants of tax progression.
We show that the optimal degree of progression of the labor income tax depends on the extent to which the government can influence the wage rate via tax policy as well as on its ability to redistribute income across individuals.
Aronsson, Thomas and Sjogren, Tomas, "Is the Optimal Labor Income Tax Progressive in a Unionized Economy?".
papers.ssrn.com /sol3/papers.cfm?abstract_id=633431   (225 words)

  
 WorldNetDaily: The 'progressive' income tax
The rhetoric of the two leading candidates in the campaign for the presidency demonstrates the fundamental flaw with the graduated -- or "progressive" -- income tax.
The idea of the "progressive" tax is socialism, pure and simple.
It sounds great in theory, which is why government schools begin indoctrinating kids on the logic of the progressive tax in elementary school.
www.wnd.com /news/article.asp?ARTICLE_ID=15040   (845 words)

  
 r21: The progressive income tax doesn't work
A study by the Institute for Policy Innovation reports that the Progressive Income Tax (PIT) does not redistribute income.
While the top 10 percent of reported incomes accounts for an increasingly large percentage of total revenue, the incomes of the other 90 percent have declined.
During a time when the top 10 percent's share of tax revenue was constant (1957-1973), the other 90 percent's income rose sharply.
www.r21online.com /archives/000091.html   (304 words)

  
 EconPapers: Tax Reform and Automatic Stabilization   (Site not responding. Last check: 2007-10-22)
Abstract: A fundamental property of a progressive income tax is that it provides implicit insurance against shocks to income by dampening the variability of disposable income and consumption.
We examine the effect of the federal income tax reforms of the 1980s on the associated degree of automatic stabilization of consumption.
We find that in certain cases the tax reforms of the 1980s actually increased the automatic stabilization inherent in a progressive income tax (especially when the Social Security payroll tax and the Earned INcome Tax Credit are included).
econpapers.repec.org /paper/wopjopovw/165.htm   (317 words)

  
 S-WoPEc: Is the Optimal Labor Income Tax Progressive in a Unionized Economy?   (Site not responding. Last check: 2007-10-22)
The main purpose of the paper is to study the determinants of tax progression and, in particular, to relate tax progression to the choice of work hours.
We show how the optimal degree of tax progression depends on the incentives underlying the choice of work hours, as well as on whether or not the government can monitor the wage rate via tax policy.
We also show that the tax system is more likely to be progressive if the individual union members freely choose their hours of work conditional on the wage rate, than if the union is able to directly affect the hours of work per employee.
swopec.hhs.se /umnees/abs/umnees0587.htm   (315 words)

  
 Flat tax - a patently absurd notion
AUSTIN - In the Batty Ideas Department, one of my favorites is the repeal of the progressive income tax and the substitution of a flat tax.
They hold on to 18 percent less of their income than people in similar circumstances kept 15 years ago.
The people in the middle, making up to $50,000 per, keep the same amount of their incomes as in 1980 - but they end up paying about 5 percent more to the Social Security system.
www.texnews.com /1998/opinion/ivins0330.html   (710 words)

  
 SSRN-The Progressive Consumption Tax Revisited by Steven Bank
By exempting savings and investment from the income tax base, while subjecting spending to a progressive rate tax, McCaffery's proposal appears to be the perfect compromise.
This Review examines three previous attempts to introduce a progressive consumption tax - in 1921, 1942, and 1995 - and discusses why they failed to satisfy both sales tax and progressive income tax proponents.
Consumption tax supporters were offended by the progressive rate structure while income tax supporters did not want to adopt what they perceived to be a move from an ability to pay base to a necessity to consume base.
papers.ssrn.com /sol3/papers.cfm?abstract_id=515502   (292 words)

  
 negative income tax - Get Concise Tax Information Online Today   (Site not responding. Last check: 2007-10-22)
A negative income tax is a method of tax reform that is...
A negative income tax would replace the current progressive income tax system used...
Credit, created in 1975, is a "negative income tax" or credit that the working...
www.republicanactivist.net /tax-income/negative-income-tax.html   (330 words)

  
 ☞ Tax - Federal Income Tax Brackets
NRSTA is a non-profit, all-volunteer organization dedicated to advancing legislation to replace federal income taxes and the IRS with a national retail sales tax.
Individual Income Tax Rates for the 50 states as of December 31, 2001.
Tax Relief Comes in Form of Amended Federal Income Tax Returns for Some New England Businesses
www.taxinfocenter.com /federalincometaxbrackets   (1372 words)

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