Progressive taxation ensures that members of a society are taxed more or less according to their income. Those who declare higher earnings are taxed more. This is essential as it ensures those who have the ability to devote more of their income to taxation do so. The capital generated from taxes ultimately goes to improve the lives of everyone who lives within the society. Mo
Even billionaires like Bill Gates and Warren Buffett agree that the U.S. tax system needs to be reformed in a progressive direction. Income inequality is smothering our economy and eventually will kill it if not addressed. Middle- and lower-income families have lost purchasing power since the 1980's, and this decrees has only accelerated since the Great Recession. If we are to remain a just and equal society, we must address this issue of income inequality. The easiest and fairest way to achieve income equality is through government policies, including progressive tax reform.
The U.S. needs a progressive tax system to promote income equality because there is simply too much of a difference between the haves and have-nots in this country. I do believe there should be percentages imposed on income and that percentage should increase with the amount of income that is made. There shouldn't be a threshold in which that percentage goes down or stops because there is only so much money one person needs or can spend in their lifetime. If they aren't generous enough to spread the wealth and help end the income inequality, they should be forced to do so. We live in one of the "richest" countries in the world. It is beyond shameful that there are people who can't afford basic necessities while others, who are making money on those same individuals, can live lavishly and be wasteful.
I've lived a long time, the bigger our government gets, the more money it wastes and the more poor people we have. ACA "Obama Care" has spent nearly one billion dollars on the web site alone, and it still has glitches. One billion spent on private health insurance would have covered the vast majority of uninsured in this country. The federal government spends between 42 and 60 cents on administration, distribution etc... That means only about 40 to 58 cents of every dollar reaches the end person in most government programs. Any private company would fail with adminstration costs that high. The government wastes to much money now, why should we trust them with more. I would guarantee we would have more poor people in twenty years if we raise taxes. For one thing, we are importing poverty across our southern border everyday., and it is only getting worse.
There will always be inequality, and quite honestly that's the way it should be. Rather than obsessing about differences in incomes, it would make more sense to simply look at the lowest income tiers. Try to pay for that by penalising those on higher income tiers and it will backfire every time - it's possible to improve the lot of the lowest paid without penalising people who have worked to get where they are.