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RE: Striking at the Heart of the Economy

in LeoFinance3 years ago

The issue of progressive tax brackets and inflation is an important one, as it can have a significant impact on people's financial situation. It is true that as people earn more, they may be bumped up to a higher tax bracket, which means they will pay a higher percentage of their income in taxes. However, it's important to note that this is a feature of a progressive tax system, which is designed to ensure that those who earn more contribute a higher proportion of their income towards the overall tax burden.

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which is designed to ensure that those who earn more contribute a higher proportion of their income towards the overall tax burden.

Yes. This is what progressive tax means. But why should it be that way? Why not have a flat-rate tax system with the same percentage for all, including corporations?