Academic Paper: Progressive Tax System
Progressive Tax System
A progressive tax system levies a greater percentage from the income of high-income earners or wealthy than it takes from low-income earners. In regard to the United States income tax policy, a tax system is considered progressive if it meets the criteria of levying tax taxes on the basis of income earned.
A recent example is the year 2010 where citizens earning up to $8,375, fell in the 10% tax bracket, those earning $373,650 and above, fell into a tax bracket of 35%. In view of the U.S. progressive income tax policy proponents, fundamental fairness is critically necessary for all citizens irrespective of their incomes.
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