is the federal government of USA taxing its people too much? what are some suggested steps to reduce this?
2007-05-20 06:59:25 · 3 answers · asked by mose m 1 in Business & Finance ➔ Taxes ➔ United States
Every time Federal tax RATES are reduced, total tax REVENUE increases. That is conclusive proof that current tax rates are too high. The best alternative I have seen is call the Fair Tax. The plan involves repealing the 16th amendment that authorized the income tax and replacing ALL Federal taxes with a consumption (sales) tax. Most states the currently have an income tax would be forced to change their tax systems as a result. With no Federal AGI to use as a stating point, most state income tax laws fall apart.
2007-05-20 07:27:38 · answer #1 · answered by STEVEN F 7 · 0⤊ 1⤋
Federal Income tax rates in the USA are low as compared to the rest of the western world.
Many economists believe that we are undertaxed here in the US.
2007-05-20 14:16:46 · answer #2 · answered by Wayne Z 7 · 0⤊ 1⤋
well, they do need it to support the war in Iraq. I personally dont support this but what can I do? I dont so much see how we can help to reduce tax rates. its the governments decision.
2007-05-20 14:02:44 · answer #3 · answered by Anonymous · 0⤊ 1⤋