Progressive Tax: What It Is, Advantages, and Disadvantages
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Progressive Tax: What It Is, Advantages, and Disadvantages
A progressive tax imposes successively higher tax rates on higher amounts of income. The United States has a progressive tax, so you don’t pay the same rate on all your income.
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"We have one of the most progressive tax codes, unfortunately, in the world. The top one percent shoulder almost 40 percent of the burden [of federal income taxes]." Rep. Kevin Brady, Ranking Member of the House Ways and Means Committee, told FOX Business that those who believe the rich aren't taxed enough "are just wrong." https://fxn.ws/2OvhnYt | Fox Business
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