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Topic: Progressive tax


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  Progressive tax - Wikipedia, the free encyclopedia
The opposite of a progressive tax is a regressive tax, where the amount of the tax is smaller as a percentage of income for people with larger incomes than it is for those with lower incomes.
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.
Tax progressivity or regressivity should not be confused with two similar concepts: tax neutrality and tax incidence.
en.wikipedia.org /wiki/Progressive_tax   (3193 words)

  
 Progressive Taxes, by Joel B. Slemrod: The Concise Encyclopedia of Economics: Library of Economics and Liberty
A progressive tax structure is one in which an individual or family's tax liability as a fraction of income rises with income.
If, for example, taxes for a family with an income of $20,000 are 20 percent of income and taxes for a family with an income of $200,000 are 30 percent of income, then the tax structure over that range of incomes is progressive.
Under the ability-to-pay principle, tax burdens should be related not to what taxpayers receive from government, but rather to their ability to bear the tax burden—that is, to tolerate a sacrifice.
www.econlib.org /library/Enc/ProgressiveTaxes.html   (1852 words)

  
 1901-1932: The Income Tax Arrives
The inheritance tax, however, is both a far better method of taxation, and far more important for the purpose of having the fortunes of the country bear in proportion to their increase in size a corresponding increase and burden of taxation.
Henceforth, tax returns would be open to inspection "only upon the order of the President." It was a blow to progressives in both parties, who had hoped the tax would serve as a means to regulate private corporations by fostering the availability of accurate financial information..
Taxed goods were disparate, their selection dependent on a variety of factors, including the political influence — or lack thereof — associated with an industry.
www.tax.org /Museum/1901-1932.htm   (7864 words)

  
 Progressive Consumption Tax
A progressive consumption tax is one that taxes the sale of all goods and services except those goods and services that are considered to be necessities readily purchased by those living at the lower end of the economic spectrum and/or increased tax rates on discretionary and luxury goods and services.
Exempting taxes on necessities is analogous to the standard deduction in income taxes (tax-free income threshold) and increased tax rates on luxuries is analogous to increased income tax brackets for higher incomes (progressive tax rate schedules).
To relieve consumers from taxes already embedded in the cost of tax-free items delivered to retail outlets, the retail business would have to be compensated for the taxed portion of their cost as well as not being taxed on their sale to the consumer.
www.proaxis.com /~randau2/taxes/progress.htm   (1335 words)

  
 The Progressive Income Tax
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.
We can see that with any tax hike, the extra money that the wealthy would have to pay in taxes is actually "excess" money that they really don't need in order to make the purchases they desire as long as their comparative rankings in the hierarchy of income distribution are unchanged.
nontrivialpursuits.org /Tax_Policy.htm   (8724 words)

  
 "Progressive" Income Tax--Destructive Socialist Misnomer--Debate Handbook
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)

  
 IRS Glossary   (Site not responding. Last check: 2007-10-21)
A tax that cannot be shifted to others, such as the federal income tax.
Taxes on property, especially real estate, but also can be on boats, automobiles (often paid along with license fees), recreational vehicles, and business inventories.
For the tax credit for child and dependent care expenses, a qualifying person is a child, dependent, or spouse who meets specific requirements.
www.irs.gov /app/understandingTaxes/jsp/s_tools_glossary.jsp   (2874 words)

  
 TomPaine.com - Progressive Tax Reform
So today, TomPaine.com has two articles looking at tax reform from different progressive perspectives. Max Sawicky gives us a great reality check on just who is paying how much, and what conservative notions of tax reform would do to our national fiscal health.
If they have their way, all taxes will be on wages and our government will be bankrupt.
Tax expenditures—a fancy word for corporate and wealthy subsidies given by tax breaks—were calculated by the Joint Committee on Taxation to be $873 billion in 2002.
www.tompaine.com /articles/2005/04/15/progressive_tax_reform.php   (406 words)

  
 BlueOregon: Progressive Tax Bracket Reform
Tax breaks have specific social and economic purposes, and although the effectiveness of a particular tax break might come into question, simply dissolving certain tax breaks is the most risky idea I have heard my liberal counterparts propose lately.
A sales tax comes in many different shapes and forms depending upon whether it is a use tax, vendor based tax, or imposed at the state, county or metropolitan level.
Their property taxes have been reduced to a few hundred dollars while the rest are expected to pick up the slack to fund basic services.
www.blueoregon.com /2004/12/progressive_tax.html   (5327 words)

  
 Regressive, Progressive taxes/taxation explained.
Progressive taxes soak the rich, regressive taxes soak the poor.
The reason was, this was a major tax bite on a six-pack of beer, and almost nothing on a $150 bottle of champagne, or a $60 bottle of scotch or wine.
Taxes are also used in other ways to direct the economy.
www.psnw.com /~bashford/taxation.html   (1586 words)

  
 Northwest Progressive Institute: Tax Reform in Tacoma?
In their place would be a probably bimonthly assessment, a tax based on property values, dedicated to the core city services of police, fire and libraries.
Regular semi-annual tax bills would be 25% smaller, reflecting the shift of the city's portion.
We're looking for progressive activists who want to make a difference and share their ideas with the world.
www.nwprogressive.org /weblog/2005/12/tax-reform-in-tacoma.html   (1124 words)

  
 progressive tax
Tax such that the higher the income of the taxpayer the greater the proportion or percentage paid in that tax.
This contrasts with regressive taxes where the proportion paid falls as income increases, and proportional taxes where the proportion paid remains the same at all levels of income.
Examples of progressive taxes in the UK include income tax and capital gains tax.
www.tiscali.co.uk /reference/encyclopaedia/hutchinson/m0038144.html   (214 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 Progressive Income Tax | The Foundation for Economic Education: The Freeman, Ideas on Liberty
Time was when the progressive tax would not have been accepted as equitable even by a majority of the poor.
This is the ultimate commentary on progressively taxing “last dollars.” Ironically, it would take a “degressive tax,” i.e., one that taxed “last dollars” least, in order to bring money from tax exempts back into the pool of risk money that should be available to the man with a new idea.
Since the onerousness of the present progressive tax rates are becoming obvious to too many voters, a trade has been proposed: let the many present legal “loopholes” (big expense accounts, the oil depletion allowance, and so on) be closed in return for an across-the-board cut in the progressive rates.
www.fee.org /publications/the-freeman/article.asp?aid=297   (4329 words)

  
 Progressive Tax-RateEmpire.com
A progressive system of taxation is one which is larger as a percentage of disposable income for those with larger incomes.
Regressive tax is the opposite of a progressive tax and in this case, the amount of the tax is smaller as a percentage of income for people with larger incomes.
o A progressive tax dons the role of 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 reduces the negative effect of an already reduces income.
www.rateempire.com /tax/progressive_tax.html   (612 words)

  
 Talking Taxes: Progressive Tax Cuts in Hawaii?
This blog is devoted to discussion of important issues in federal, state and local tax reform, with an emphasis on fair and adequate taxation.
But things are looking a little more relaxed in Hawaii, where two competing approaches to tax cuts are being discussed in the legislature; Governor Linda Lingle's tax relief package includes progressive income tax cuts, while Representative Calvin Say in the House (HB1708) and a group of Senators seek to target tax cuts to wealthier Hawaiians.
The legislative plan would widen the income tax brackets for married couples while leaving the tax brackets for singles unchanged, and would drop the bottom tax rate from 1.4% to 0.7% for married couples (no change for singles).
www.ctj.org /blog/2005/02/progressive-tax-cuts-in-hawaii.html   (365 words)

  
 Student Homepage
A progressive tax takes a larger percentage of income from high-income groups than from low-income groups and is based on the concept of ability to pay.
A progressive tax system might, for example, tax low-income taxpayers at 10 percent, middle-income taxpayers at 15 percent and high-income taxpayers at 30 percent.
Activity 1: Progressive Taxes and You-Show what percentage of each person's income would go towards tax in a progressive system by completing pie graphs.
www.irs.gov /app/understandingTaxes/servlet/IWT3L3ol   (248 words)

  
 Talking Taxes: Progressive Income Tax Cuts in Alabama
In a state that clearly needs progressive tax reform, this bill is an important first step in the right direction.
As the Center on Budget and Policy Priorities' annual income tax threshold report shows, in 2005, Alabama families with two children owed income tax when their earnings reach just $4,600--lower than any other state.
This approach to tax relief is a compromise between the goals of Governor Bob Riley, who wanted to cut taxes for people at all income levels, and the goals of progressives who wanted to pay for low-income tax cuts with income tax hikes on wealthier Alabamans.
www.ctj.org /blog/2006/04/progressive-income-tax-cuts-in-alabama.html   (1069 words)

  
 The Claremont Institute: Regressive Thoughts on a Progressive Tax   (Site not responding. Last check: 2007-10-21)
Direct taxes, such as "capitation" or "head" taxes had be apportioned among the states according to their population.
In other words, the top 10 percent of tax filers were responsible for two of every three dollars paid in income taxes in 1999, while the bottom half of all those who file tax returns paid essentially no income taxes.
The so-called progressivity of the federal income tax system is both fundamentally unfair and inconsistent with the principle of equal rights that underlies the Constitution.
www.claremont.org /writings/precepts/20020415hinderaker_johnson.html   (848 words)

  
 SSRN-Replacing the Income Tax With a Progressive Consumption Tax by Daniel Shaviro   (Site not responding. Last check: 2007-10-21)
However, the capacity of a consumption tax to achieve progressivity comparable to that of an income tax is widely misunderstood, for two main reasons.
As recent tax policy literature has shown, however, the only difference in theory between an income tax and a consumption tax pertains to the risk-free return to waiting, which historically has averaged less than one percent per year.
A consumption tax affects the purchasing power even of unspent wealth, and the burden it imposes generally is not reduced by deferring one's consumption.
papers.ssrn.com /sol3/papers.cfm?abstract_id=444221   (630 words)

  
 The Progressive Tax Revolt–and the Possibility of a Progressive Ownership Society
Unlike attempts to tax the suburbs, moreover, targeting the very top elite groups can put 95-98% of the electorate on one side of the line of political demarcation–and only a tiny 2-5% on the other side.
Variations on this theme might use other taxes aimed at those at the top to fund both state and federal trusts–and then invest in a wide range of increasingly popular and increasingly sophisticated community benefiting strategies.
Progressives clearly need new strategies if they are to counter the dominant Bush era policies.
www.commondreams.org /views05/0510-27.htm   (1004 words)

  
 OVERHAULING OHIO'S PROGRESSIVE INCOME TAX   (Site not responding. Last check: 2007-10-21)
Progressive is not the word to use since it causes regressive economic growth.
But, after crunching the numbers and trying to make a barn door fly, I have concluded that the progressive, Fed and State tax is the best for the necessary revenue and the most fair.
Progressive tax isn't the problem, the tax code is. And the fact it is always ten years behind society's financial condition with no remedy for lagging behind.
www.freerepublic.com /focus/f-news/897406/posts   (1097 words)

  
 Progressive Consumption Tax | TPMCafe
The progressive consumption tax was a favorite of my tax law professor in the 1970s.
with a consumption tax, taxpayers compute their consumption, that is, how much have they spent, then figure their tax.
The fairness of a progressive consumption tax to them depends upon the tax rate schedule.
www.tpmcafe.com /story/2005/6/29/143448/159   (501 words)

  
 Progressive Tax Cuts: Tax Relief for Working People: The Simplified Family Credit (SFC)   (Site not responding. Last check: 2007-10-21)
In a nutshell, it unifies, simplifies, and expands benefits for families with children in the Federal individual income tax.
The SFC replaces approximately 200 pages of instructions, worksheets, forms, and tables in the current tax code with this postcard-sized form.
The liberals are the fools for not putting forward their own proposals, especially in the tax cut realm.
www.maxspeak.org /tax1.html   (582 words)

  
 Kucinich Floor Statements - Workers' Rights
I would like to bring to your attention a proposal I introduced last Congress, H.R., the Progressive Tax Act of 2003, which will have a positive impact on millions of taxpayers.
A simplified tax code can provide this transparency, which in turn provides a sense of trust in the government.
This tax credit will simplify the tax code, provide greater transparency, provide extra work incentives, and provide a stimulus effect.
www.kucinich.us /floor_speeches/work_progressive_tax28jul.php   (572 words)

  
 SSRN-The Progressive Consumption Tax Revisited by Steven Bank   (Site not responding. Last check: 2007-10-21)
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   (308 words)

  
 How to spot a progressive tax cut
House-passed minimum wage bill cuts wages for tipped employees in seven states by as much as $5.60 per hour
Wealthiest Americans will receive most of the benefits from the planned tax cuts
Reducing taxes will cost jobs and bloat deficit
www.epi.org /content.cfm/webfeatures_snapshots_20060531   (189 words)

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