Oscar Wieland: to your last question, I don't foresee anything in the future for rewarding you for having childrenthe most of the taxes you mention are based on a % of a specific amount, ie. your gross wages, your assessed value of your property, the gallon of gas etcincome taxes are based on your total gross income but you are allowed to claim exemptions and deductions, which you cannot do with most of the other taxes
Willa Holte: Actually, most states have a progressive income tax similar to the federal system.Only a few states have flat taxes.Flat taxes are regressive. They tend to shift the tax burden to the poor and middle class.Will the Federal income tax ever be flat? No....Show more
William Vickerman: No, the federal income tax will almost surely continue to be a progressive tax where higher incomes pay a higher marginal tax rate. The idea behind the flat taxes is that one person or ten people in a vehicle, assuming the same vehicle, you all use the! same amount of gas as well as the roads (maintenance) so everyone pays a pro rated amount towards the roads, schools, whatever. However, incomes vary and those who are at the lower end of the pay scale pay more of their compensation towards the basic necessities (these are the standard deductions and exemptions) and the thinking is that first, people should not be put in a position where taxes keep them from buying the necessities (food, clothing and shelter) and as you rise above the level of basic necessities, you are more able to pay the higher marginal tax....Show more
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