Progressive Tax

Accounting guru Lillian Mills dispels the myth that graduating to a higher tax bracket decreases your income.


#1 While you won't pay retro tax

While you won't pay retro tax on income in lower brackets, you get to keep less of each dollar as you go up in brackets. Thus the last thousand you earned only netted you $700 as opposed to $800 due to the bracket change. How is that "fairer" than a flat rate of say 15% across the board? Then each $1000 earned nets you $850 no matter how high your income goes. The "progressive" system allows for attempted social engineering that only engenders class hatred and promotes a "bread and circuses" fiscal policy where roughly 50% of people pay nothing in taxes and can continue to elect people to shift the burden onto the "rich" via "progressive" taxes that are claimed to be "fair".