Income tax

definition, a flat tax is a single tax that is applied to an entire base regardless of income. The idea of a flat tax seems ideal, yet it is too simple. Steve Forbes’ book, Flat Tax Revolution, holds nothing back when describing the current federal income tax code. He refers to the current system as appallingly, confusing and complex. According to Forbes (2014), “The federal tax code is beyond redemption. We should kill it and institute a flat tax.” The United States uses a progressive-rate tax…

Matthew Schoeman: Wow, great job! Your post is the only one I've read that I actually can truthfully say I agree with. I definetely think that the ridiculous amount of reservation funding needs to end. Far from doing Aboriginal people any good, government handouts are helping to perpetuate the "lazy Indian," which, though perhaps a steroptype, is one that is quite accurate. Just step onto a reserve and any doubts on that score should vanish. A family friend who is a doctor in a rural community…

reduced for DMO portion first, before it finally provides the final take for contractor. On the other hand, government pays the DMO portion in a certain fee. It is also worth noting that all contractor’s share, whether in FTP and ETBS, is tax deductible. Therefore, tax revenues along with DMO and FTP are additional factors to increase government…

reality taxes on the rich are among the lowest they have ever been. America has seen a steady tax decline on wealthy Americans since the Reagan administration while wages for the middle class have barely increased after adjusting for inflation. All while the rich claim that decreased taxes on the rich will lead to a better economy but when one looks back, the economy was doing the best when America had high tax rates on the rich and they paid their fair share. As a result, it brought in more…

the U.S. “economy more than $500 billion annually in…increased health care…expenditures” from more serious conditions (Brown 1). That is why David Wood, a researcher with a medical degree at the University of Los Angeles, believes that the public income-transfer programs are ineffective. Instead, he advocates for government to increase funding for pediatricians to improve healthcare. He believes pediatricians can “receive and welcome families that are poor…into their practices” and prevent…

on family decision-making and financial literacy offered insight into the struggles low-income households face each month to survive, much less invest or save. In particular, the volatile and unpredictable nature of working hours, predicted income, and unforeseen expenditures affect low-income individuals’ ability to draw on resources and grow assets over the course of a lifetime. By necessity, low-income and asset poor individuals are unable to accumulate wealth to build assets and focus on…

: “ Should There Be a Tax on Soda and Other Sugary Drinks?”, published in the wall Street Journal “taxes on sugary beverages are regressive and would hurt the poor”. While it is true that sodas and sugary beverage are the mostly consumed by low income working family; however, the amount of tax per ounce and the effect aren’t harming the poor families, but it is the opposite, they are the biggest beneficiary of this tax in the short and the long term. First of all, the tax is not big enough to…

Lived in poverty all my life and there is no one to run to when you need something.But knowing that there are a lot of people there who are trying to survive hurts me a lot.So poverty in America has been a huge issue for the past many decades. The government has tried helping them by giving them, food stamps etc. But the percentage of people who are getting poor is getting worse each year. The people who are against poverty agreed that something has to be done about it, but the primary reason…

Unfortunately, accordingly to Pitzil, this means a projection of 2,500 people, including 1,500 kids will no longer qualify for the retiring allowance the program provides. The average payment is $278 a month. The TANF program has inadvertently impacted low income families in a negative way. Fifty percent of work-eligible individuals who receive TANF assistance must meet minimum hourly requirements in federally specified work activities such as paid work, job search, and job skills training…

including the values of any social contributions, income taxes, etc., payable to employees.” It essentially is the monthly, or sometimes, weekly amount of money that the employees are getting paid by their employers because of their contract. One thing that all working people have in common, is the income tax that they have to pay, based on the amount of money that they earn, the more money you earn, the more tax you are going to pay. The income tax is not required to be paid by people that are…