essay on whether we should have a flat income tax or a progressive tax system

Someone earning $40,000 in wages could pay a higher tax rate than another person who made $400,000 a year in capital gains. tax system from progressive to regressive. If enacted in their entirety, Gingrich's proposed changes would turn the U.S. In Newt's plan, someone making $40,000 could pay a higher rate than a millionaire He is playing to the conservative base, as a way of counteracting some of his other personal liabilities. On one level, Gingrich's intense focus on lower taxes fits current dogma in the Republican party, which puts tax cuts above almost everything else. In addition, Gingrich has proposed a 15% flat tax as an option for all Americans, going further than the 20% flat tax advocated by Rick Perry.

Gingrich talked about his desire to end the capital gains tax and cut the corporate income tax to 12.5%. That was the first line of Newt Gingrich's explanation of how he would create jobs, given at the December 10 Republican debate in Iowa. 'It starts very simply: Taxes, lower taxes.' Eliminating investment taxes, as the presidential hopeful has proposed, would be a needless gift to investors and executives profiting off the gains from outsourcing and 'global income'

Essay on whether we should have a flat income tax or a progressive tax system