The United States income tax system.
The United States income tax system exercises a tax system based upon various levels of income on individuals and corporations. The American tax system mostly targets the low income earners and small business entities.
The U.S federal government has adopted a flat tax system in which tax is levied on household income at a same or uniform rate despite of the level of income. The U.S has implemented a progressive tax system, in which high income earners pay higher taxation rates than the low income earners.
But the flat tax system is unfair to the low income part of the U.S population because low income households spend money in purchasing the same products or basic necessities at the same rate as the high income earners.
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we elected to office to serve us are not financially responsible. Congress should only concur to elevate the debt upper limit in exchange. For instant spending cuts and other adjustments that validate loading the country with extra debt. The country can endure for a while on a reasonable and balanced budget.
I agree that budgeting is not an easy task for all including the government, but if the government would be put in the shoes of what so any households have been going through by staying within a strict budget, it would be much responsible.
Samuel A. D (2007). Federal Income Taxation of Individuals: Cases, Problems and Materials, 2nd Edition (St. Paul: Thomson/West, 2007), 10; Internal Revenue Service, United States Department of the Treasury. Federal Tax Rate Schedules.
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