How the Proposed Constitutional Tax Amendment Would Upend One of the Best Tax Systems in the World

The United States has one of the best tax systems in the world. It is fair, progressive, and efficient. However, a proposed constitutional tax amendment would upend this system and replace it with a flat tax. This would be a disaster for the country.

Back to Taxachusetts?: How the proposed constitutional tax amendment would upend one of the best economies in the nation.

by Asian Development Bank

4.7 out of 5

Language	:	English
File size	:	8671 KB
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The Current Tax System

The current tax system is based on the principle of progressivity. This means that people who earn more money pay a higher percentage of their income in taxes. This is fair because people who earn more money can afford to pay more taxes.

The current tax system is also efficient. It collects a large amount of revenue without creating a lot of economic distortions. This is because the tax rates are relatively low and the tax base is broad.

The Proposed Constitutional Tax Amendment

The proposed constitutional tax amendment would replace the current tax system with a flat tax. This means that everyone would pay the same percentage of their income in taxes, regardless of how much they earn.

A flat tax would be unfair. It would shift the tax burden from the wealthy to the poor and middle class. This is because the wealthy would pay a lower percentage of their income in taxes, while the poor and middle class would pay a higher percentage.

A flat tax would also be inefficient. It would create a large amount of economic distortions. This is because the tax rates would be higher for low-income earners and lower for high-income earners. This would discourage low-income earners from working and encourage high-income earners to invest in tax shelters.

The proposed constitutional tax amendment would upend one of the best tax systems in the world. It would replace it with a flat tax that would be unfair and inefficient. This would be a disaster for the country.

We must not let this happen. We must stand up and fight for the current tax system. We must defend the principles of fairness and efficiency. We must protect the American Dream.

Back to Taxachusetts?: How the proposed constitutional tax amendment would upend one of the best economies in the nation.

by Asian Development Bank

4.7 out of 5

Language	:	English
File size	:	8671 KB
Text-to-Speech	:	Enabled
Screen Reader	:	Supported
Enhanced typesetting	:	Enabled
Word Wise	:	Enabled
Print length	:	263 pages
Lending	:	Enabled

FREE