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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.
- Fall '06