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The Negative Income Tax And The Evolution Of U.S. Welfare Policy
Moffitt, Robert A. "The Negative Income Tax And The Evolution Of U.S. Welfare Policy," Jour- nal of Economic Perspectives, 2003, v17(3,Summer), 119-140. 20 Sept. 2014. Moffitt talked about negative income tax and the U.S welfare policy. The article talks about the idea of the government taking taxes and then giving it back to the people like it is in a debit card. The negative income tax reduces the take home income from working in a same way like a positive income tax. -
New Paragraph of the Event
None of the other experts have brought up this point and that is the reason that I put it into my paper. It is a very unique way of approaching income tax. -
History of the Income tax in the United States
Income began to support the Civil War efforts and it started out with very low rates. Starting at only 3%, the income tax was at a reasonable rate and for a good cause. In 1866 they added an inheritance tax, which you could imagine brought in a lot of money since the war had just ended in 1865. The income tax was then ended in 1872. Citation: I could not find the author on the page "History of the Income Tax in the Unites States." Infoplease. Infoplease, 2007. Web. 14 Sept. 2014. -
New Paragraph of the Event
I have learned that this is just a historical fact and not really a debateable topic so I will not choose it for my top 4. It is really interesting to know that there was a time that there were no income taxes and that when it was first created it was only at 3% -
Guess Who Really Pays the Taxes
The richest of Americans, the top 1%, pays for 37% of the total income tax while only making 19% of the total revenue. They are paying income tax at a rate that balances them out with the rest of society which does not need to happen. To be in the top 1% requires hard work so if one put in the time and money to go to school to be a doctor, should be be rewarded the same way as a frycook at macdonalds? No. The lower 20% of Americans make 13% of the total income and only pay 3% in income tax. -
Bibliography of event
Moore, Stephen. "Guess Who Really Pays the Taxes." The American (2007): n. pag. Web. 14 Sept. 2014. -
New Paragraph of the Event
This is all facts so there isn't really much debate here. It is filled with statistics that support one side of the argument and there isn't much opinion from that author at all. So my views didn't change at all after reading what other experts had to say. -
10 Problems With the Income Tax
This article talked about all of the negative things that income tax brings. As in it being to complicated, too expensive, unfair, and many other things that supports getting rid of income tax. It also talks about the negative things that it does to businesses, especially small businesses that can hardly afford to stay up and running.
Bedard, Paul. "10 Problems With the Income Tax." US News. U.S.News & World Report, 12 Apr. 2010. Web. 15 Sept. 2014. -
New Paragraph of the Event
While reading other expert's opinions I have realized that not all of these ten things are problems for all of the Americans paying taxes. Obviously, this article is one sided and is very opinionated. What I have learned is to get more articles that are just as opinionated for the other side's argument. -
Rich Paying For More than 70% of total income
The wealthy 10% of Americans paid 70.6% of all taxes in the United States yet people continue to push more taxes to be put on them because there is some kind of illusion that the rich get away with not paying any taxes where they actually do, and at an overwhelming rate. The other 90% of Americans pay only 29.4% of the total taxes. There used to only be 2 tax rates, 15% and 28%. There are now 7 income tax brackets ranging from 10% to 40%. -
Bibliography of event
Hargreaves, Steve. "The Rich Pay Majority of U.S. Income Taxes." CNNMoney. Cable News Network, 12 Mar. 2013. Web. 14 Sept. 2014. -
New Paragraph of the Event
This is all facts so there isn't really much debate here. It is filled with statistics that support one side of the argument and there isn't much opinion from that author at all. So my views didn't change at all after reading what other experts had to say. -
Journal Article about what could happen.
If income taxes are lowered to extreme measures which would be 0% then people would want to be at work as much as possible while having an hourly job because they know that they are making everything that they are working for. If the income tax was at 100%, then everything that you made would go to the government and they would provide necessities to you. In that case, people would not want to work at all because they are not getting any benefit from it. They would be looking only at surviving. -
Bibliography of event
Moffatt, Mike. "The Effect of Income Taxes on Economic Growth." Income Taxes - Looking at Extreme Cases (2014): n. pag. Web. 14 Sept. 2014. -
New Paragraph of the Event
This article was only about what if scenarios like if there was a tax rate of 100% or if there was a tax rate of 0% so there isn'tt anything that I have learned by reading up on other expert's articles.
