Econ / Personal finance
Mrs. Weser
2-27-2014
This week in Weserville we had to figure out how the government was going to pay for the roads that Walmart had asked for. So the Government of Weserville decided to tax the people of Weservill. Some of us where taxed using proportional tax; meaning that they take the same percentage of income form all taxpayers regardless of income level. I think that this is unfair because even though they are paying the same percentage the amount of they are paying is not the same because the more wealthy people have more money they are paying more then the lower class citizens. Then some of the people where taxed using progressive tax this is when the people with a higher income pay a higher percentage rate of taxation then those who make a low- income earners. this is what we have in the United States, because the tax rate increases as income increases. The last group was was taxed based on the regressive tax this takes a larger percentage of income from people with low incomes than they do from people with high incomes. With the regressive tax, the Percentage of income paid in taxes decreases as income increases. I think that the most fair tax structure is the proportional even though they are not paying the same amount of money they are paying the same percentage. The taxes that the citizens pay to the government are used to pay for the public goods these are the goods and services that are provided by the government such as roads, street lights, and education. and that's what went on in Weservill this week Paying a lot of taxes :/
This was such a creative activity to help us understand what each tax is and how it affects every person. It is hard for the people of Weserville to pay taxes equally. People in the town's payment range is very large. Some people make only $18000 while others can make $80,000. It is difficult to make everyone pay the same amount but in the end it is pretty fair. Keep up the good work(:
ReplyDelete