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Brief History of Taxing from the United States Essay

Project id 1005260
Subject area Self Improvement
Document type Essay
Words 1100
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Many ponder the concept of federal taxation and whether the wealthy deserve to pay a greater percentage rate of the total earnings. In other words, they assert that because our society requires more equality and a lesser federal budget deficit, taxes on the wealthy has to be raised. This specific topic has been discussed for decades, also because of the severely distinct perspectives, it's unclear if both sides will ever come to an agreement. President Barack Obama and a lot of the Democratic Party strongly lean towards raising taxes on the rich, while the conservatives and the Republican Party heavily lean towards a more balanced flat tax. But after extensive research and concentrate on what could be ideal for the equality of individuals, the country and its market, this newspaper will ardently prove that the top one percent should not be taxed any more than they are now. Directly off of the IRS Federal Government site, the 2014 United States Federal Income Tax Rates are as follows. The top one percent for unmarried submitting pays 118,118.75 plus thirty-nine stage six percent on taxable income over $406,750. The best one percent for married filing jointly pays 127,962.50 plus thirty-nine stage six percent on taxable income over $457,600. The top one percent for married filing separately pays 63,981.25 plus thirty-nine point six percent on taxable income over $228,800. The top one percent for head of household filing pays 123,424.00 plus thirty-nine point six percent on taxable income over $432,200. (1) Taxing at the United States was originally set up to increase money for war efforts in the early 1800s. The country needed instruction, supplies, transportation, artillery, nurses, and troops, and so collecting cash from inside was the onl...

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