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Both forms of consumption tax are not without their troubles and for the most part there is no consensus on the benefits of either alternative. Overall, the quest to reform the current system of taxation rages on. It will be very difficult to reform the current progressive tax system of because it is so steeped in bureaucracy and tradition.
Conclusion
The purpose of this discussion was to examine the progressive income tax. We found that the this tax system operates by taxing a certain percentage of individual income excluding certain deductibles. The investigation detailed the history of progressive taxation and clearly defines progressive taxation. The investigation revealed that the implementation of such taxation was controversial since its inception which came as a result of an amendment to the constitution. In addition, the research presented the problems associated with progressive taxation and the solutions to these problems. We found that the main problem often associated with this type of taxation is the placement of a tax burden on middle-income families. To remedy this problem the research asserts that consumption taxes should take the place of a progressive tax. It is believed that such taxes will reduce the tax burden of the middle class and reduce the occurrences of tax evasion, which are so prevalent with the current system of taxation.
In any case the research has proven that the current tax system is problematic and in need of reform. The progessitivity of the system compounded by complex tax laws make the system unfeasible and terribly burdensome for the middle class.
Works Cited
Boyd T. 2002. Guide to the Tax Act of 2001: The Economic Growth and Tax Relief Reconciliation Act of 2001. Review of Business....
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Creedy J., Gemmell N. 2002. The Revenue Responsiveness of Consumption Taxes. Contributors: - author. Journal Title: Economic Record. Volume: 78. Issue: 241. Page Number: 186+.
Fougere M.., Ruggeri Giuseppe C. 1998. Flat Taxes and Distributional Justice. Review of Social Economy. Volume: 56. Issue: 3. Page Number: 277+.
Fratantuono Michael J. The Great Tax Wars: Lincoln to Wilson -- the Fierce Battles over Money and Power That Transformed the Nation. Contributors: - author. Journal Title: Parameters. Volume: 33. Issue: 4. Publication Year: 2003. Page Number: 168+.
Hoey Ri. B. 2003. The New Tax Cuts. ABA Banking Journal. Volume: 95. Issue: 7. Page Number: 72.
Wallace S., Wasylenko M. 1992. Tax Reform 1986 and Marginal Welfare Changes for Labor. Southern Economic Journal. Volume: 59. Issue: 1. Page Number: 39+.
Works Cited
Boyd T. 2002. Guide to the Tax Act of 2001: The Economic Growth and Tax Relief Reconciliation Act of 2001. Review of Business. Volume: 23. Issue: 1. Page Number: 33+.
Creedy J., Gemmell N. 2002. The Revenue Responsiveness of Consumption Taxes. Contributors: - author. Journal Title: Economic Record. Volume: 78. Issue: 241. Page Number: 186+.
Fougere M.., Ruggeri Giuseppe C. 1998. Flat Taxes and Distributional Justice. Review of Social Economy. Volume: 56. Issue: 3. Page Number: 277+.
Fratantuono Michael J. The Great Tax Wars: Lincoln to Wilson -- the Fierce Battles over Money and Power That Transformed the Nation. Contributors: - author. Journal Title: Parameters. Volume: 33. Issue: 4. Publication Year: 2003. Page Number: 168+.
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