if i specifically were to earn 277k that’s currently taxed 48% in the system we use, and if we got rid of our progressive brackets it would be taxed at 33%. but we’re not talking about specific countries, we’re talking about removing progressive taxation from a hypothetical economy to replace in with… what? flat rates?
progressive taxation is an umbrella term for a bunch of systems all over the world. the only thing in common is that as income goes up, so does the percentage of it you need to pay in taxes.
if i specifically were to earn 277k that’s currently taxed 48% in the system we use, and if we got rid of our progressive brackets it would be taxed at 33%. but we’re not talking about specific countries, we’re talking about removing progressive taxation from a hypothetical economy to replace in with… what? flat rates?
progressive taxation is an umbrella term for a bunch of systems all over the world. the only thing in common is that as income goes up, so does the percentage of it you need to pay in taxes.