-
Essay / income tax - 1092
It has been said throughout history that the middle class pays more income tax than the upper class, but is this true? It is always assumed that the middle class pays more taxes, but the upper class pays about 39.6% of income tax according to the tax bracket shown in Figure 1.1. The middle class pays around 15% of income tax. Income tax is a tax that the government imposes on financial income. Although the rich may pay more taxes because of the income they earn, the poor and middle class are greatly affected by income taxes because of their gross income. The problem that the middle class pays more in income taxes than the upper class has been a problem for decades. According to a survey by the Gallup tax burden website, political parties tend to lean one way or another when it comes to income taxes because it can benefit them. The median income in the United States in 2012 was about $51,017, leaving about 15 percent of the population considered poor.2 According to Figure 1, which depicts the 2013 tax bracket provided by the IRS , it is shown that the median income social class only pays about 15% of the tax, and the upper class pays about 39.6% of the tax. Even if the middle class pays less, it is still very effective for them because their gross income is lower than that of the upper class. A single filer who earns between $8,926 and $36,850 pays 15%, and a single filer who earns $400,001 and above pays about 39.6%. The rich pay more, but it doesn't affect them because they are not dependent on wages or salaries like the middle class is. The upper class mainly earns their income from businesses and entrepreneurs, but the middle class population earns their income by working under a Patel 2, while earning a minimum wage. The rich earn more m...... middle of paper ...... At the federal level, the middle class does not pay more income tax, but at the local and state level, where regressive taxes are taxed, the middle class pays more taxes than the upper classes because their income is lower than that of the rich. My thesis failed due to the research evidence. It has been said that throughout history the middle class pays more income tax than the upper class, but according to research the middle class only pays about 15% of income tax. income, while the top 1% pay about 39.6% of federal taxes. Some arguments that the middle class pays more in taxes may be true, but the middle class as a whole does not pay more than the upper class. Through research, it is also explained that politicians tend to lean towards a certain party. The rich make more money, so the tax bracket doesn't affect them as much as the middle class..