The candidates only seem to be speaking about income taxes. I thought I'd list a few more taxes and whether they are progressive (rich pay a greater % of their income), regressive (poor pay a greater % of their income), or neutral.
Income tax = progressive
Payroll tax (paid by both individuals and corporations) = neutral to progressive
Property tax = regressive
Sales tax = regressive
Inflation tax = regressive
"One of the greatest mysteries of our time is how the GOP convinced the poor and middle class to vote against their self-interest."
2 comments:
Yes, and some types of sales tax are even more regressive and ridiculous than others. For instance, the tax on food levied by many states. That's one that really kills the poor, and in my opinion is wrong, wrong, wrong.
You're right. Sales tax on yachts and luxury cars can't be defined as progressive or regressive. There aren't any poor people buying them.
And don't even get me started on the food sales tax. I might start spluttering.
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