Samuel Leighton

Economics

Mr. West

28 October 2020

2.03 Sharing with Uncle Sam?

As a working tractor mechanic who earns $35,000 a year, I would be taxed $5,250 under

the flat income tax, $8,750 on the regressive and progressive tax plan.

 Federal Income tax is a direct tax because you pay it directly to the government

 The flat income tax plan holds each person responsible to the same amount of tax percent

to pay no matter what your income is, the regressive plan lowers the percentage of taxes

you owe the more you make, whereas the progressive plan raises taxes as you make more

of an income

 In both the regressive and progressive tax plans I would pay the most where I’d be paying

$8,750 in taxes

 The Flat income tax would benefit me the most because I am paying 10% less in taxes

and $3,500 less, this is because with my income I fall into the same tax bracket for the

regressive and progressive plan

 I believe the flat tax would be the fairest for everyone because everyone is paying the

exact same percentage, but it may not be the most beneficial for the government

 Yes, my stance on the proposed tax plan would change. Together we would combine to

make $85,000 a year, where the regressive tax plan would be our best option. We would

only be taxed 10% whereas with the flat we would be taxed 15% and 40% on the

progressive proposal.