Flat Tax Policy Argumentative Essay by Master Researcher

Flat Tax Policy
Argues for a system of flat tax instead of the present income tax system.
# 41015 | 1,201 words | 4 sources | MLA | 2002 | US


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Description:

This paper overviews the current income tax system and argues in favor of a simpler, fairer flat tax. The paper asserts that the current income tax system is wasteful, unfair, and too complicated to be understood by anyone other than a tax accountant, while a flat tax is fair, simple and economically sound.

Outline:
Current Income Tax Law
Problems with the Current Income Tax
The Flat Tax
Conclusion

From the Paper:

"Ratification of the Sixteenth Amendment to the Constitution in 1913 granted Congress the right to "tax income from whatever source derived," and led to prompt enactment of the first income tax. (Graetz 16) The tax was initially codified in 1939, and then recodified in 1954 and 1986. The recodifications were undertaken for purposes of restating and clarifying the many changes made to the tax law over time. The word "code" in Internal Revenue Code refers to Title 26 of the United States Code, the federal laws of the United States.
"Although rates and rate brackets have fluctuated over the years, the trend has been toward progressively higher tax rates imposed on increasing amounts of income. For example, in 1913 the first $20,000 was taxed at a minimum of 1%, while incomes over $500,000 were taxed at the maximum 6% rate. By contrast, by 1978 the lowest rate of 10% applied to $10,000 of taxable income and the highest rate of 70% kicked in at a relatively modest $90,000 of taxable income. (Graetz 16) Although recent changes to the tax law have cut marginal tax rates nearly in half since 1978, the Internal Revenue Code continues to be plagued by a confusing array of exclusions, deduction, and credits that make tax filing a mind-boggling task for million of Americans."

Cite this Argumentative Essay:

APA Format

Flat Tax Policy (2003, October 17) Retrieved June 30, 2022, from https://www.academon.com/argumentative-essay/flat-tax-policy-41015/

MLA Format

"Flat Tax Policy" 17 October 2003. Web. 30 June. 2022. <https://www.academon.com/argumentative-essay/flat-tax-policy-41015/>

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