Solution: Progressive Tax?

In the US, there is an unfair share of taxes. The solution to the budget crunch is not to raise taxes, but to implement progressive taxes. Progressive tax is a tax that takes a larger share from people with high incomes, and a smaller share from people with lower incomes. People out of jobs or people about to lose their jobs should get lower taxes. Also, big companies should pay large taxes. This would allow for tax fairness. The article also states that loopholes for big corporations to avoid taxes should be eliminated. If progressive tax would be used, big companies and people with high incomes will pay a bigger share of their income for taxes than people that need to save as much money as they can.

The diagram above shows progressive tax. As the amount of income increases, the amount of tax paid also increases. However, the increase is not proportional. As the curve goes up, it becomes steeper, showing that people with higher incomes pay a higher share of taxes than people with lower incomes.

Here are some links related to progressive tax:

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