206Fall2013PP2

206Fall2013PP2

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Unformatted text preview: y, and will promote the General Welfare, the Government is no longer a limited one, possessing enumerated powers, but an indefinite one, subject to particular exceptions. James Madison Taxes: which most Taxes: which most “constitutional?” Progressive income tax: higher income, proportionately higher % of taxes. ­­”rich should pay more” “Another means of silently lessening the inequality of property is to exempt all from taxation below a certain point, and to tax the higher portions of property in geometrical progression as they rise.” Thomas Jefferson Flat tax: constant, marginal rate. ­­Russia: 13% income tax ­­”everyone pays the same %” “Fair tax”: national sales tax on ­­”pay as you consume” "Taxes on consumption are always least burdensome, because they are least felt, and are borne too by those who are both willing and abl...
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This note was uploaded on 10/31/2013 for the course POLS 206 taught by Professor Someonethatwasjusttryingtogettheirdoctorate during the Fall '06 term at Texas A&M.

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