Monday, April 19, 2010
Yes, 47% of Households Owe No Taxes. Look Closer.
-really interesting article about our current tax situation. It says that taxes will probably be a really big issue this next year and I agree that there are going to be a lot of tax changes coming up.
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I am shocked by this article. That is a tremendous amount of households who don't have to owe taxes. I personally think this is quite unfair for the wealthy, seeing that they are responsible for more than half of all the taxes!
ReplyDeleteThe entire progressive tax systems really makes me wonder sometimes. I mean I understand the fact the government needs some sort of income, especially during large deficit times, but I do not believe that one group should be punished for being more successful. The whole ideology is really troublesome to me especially when you consider that many government programs are directed to the poor.
ReplyDeleteIt is quite hard to believe that almost HALF of the US households do not owe taxes for 2009. I happen to think the progressive tax system functions quite well. Taxing the wealthy will not come close to solving the long-term budget problem, however, if taxes are not increased for the wealthy, the government will have to restore to raising taxes even more or significantly slash their spending.
ReplyDeleteI think it's reasonable for the wealthy to be taxed more on their incomes. The progressive income tax system helps the government gain more revenue to fund social programs without too significantly disturbing tax-payers' spending capability. Another advantage of this taxing model is to redistribute money from the rich to the poor, bridging the gap between the two groups. I know the second idea sounds trite but it is quite important.
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