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Should income be taxed at a progressive rate?
The Secret Millionaire unwittingly made a strong case for a much more progressive rate of taxation.
One approach to consider is flatter taxes (a less progressive rate structure on a broader base) and more progressive spending.
The progressive rate of tapering from the base of the tail to the tip is comparable to that of a bullwhip from the grip to the tip.
Compare, for example, a system in which individual people's wages are taxed at a progressive rate (an "individual tax base") to a system in which total wages earned by members of a household are combined and then taxed at a progressive rate (a "household tax base").
In addition, income taxation is regulated by a progressive rate structure (which can be thought to include the personal exemption as a zero tax rate).
Similar(33)
2. Robin Hood tax. 3. Tax all income at the same progressive rate--capital gains same as wages.
Many in the country, including the Communists, want to hold on to progressive rates.
That amount, less a standard deduction, would be taxed at progressive rates.
"We are extremely supportive of the Cypriot intentions to introduce more progressive rates," she said in Frankfurt.
Households would pay tax at progressive rates on their wages but would not pay tax on income from savings.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com