Income tax — a tax on money made from jobs and other sources — is the largest revenue source for the US government. Although originally controversial, it has become a key principle of the US tax code.

What Is a Progressive Tax? A progressive tax is one in which the tax rate increases as the amount that is taxed increases. Many income taxes, including the federal income tax in the United States, are ...

One of the primary tax reform debates taking place in several states is an argument over which type of tax system most efficiently raises revenue for the government while not unduly burdening ...

Democrats have long sought to make the federal income tax even more progressive than it already is — and it is very progressive now. But there is an additional progressive income tax – a tax that most ...

A flat income tax system is one where everyone is taxed at the same rate, no matter how much money they earn throughout the year. Many people argue that it is a fair way to tax everyone in an equal ...

Secretary of Commerce Howard Lutnick recently announced on CBS News that the Trump administration wants to eliminate income taxes for those making $150,000 a year or less. Were that to happen, only ...

The Congressional Progressive Caucus released its annual budget proposal Thursday, proposing record high taxes that would raise taxes by nearly $3 trillion over the next decade. According to estimates ...

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The Great Recession happened at a formative age for me. As a third grader, I remember watching my friends’ parents get laid off from their jobs and face real economic hardship. At the same time, ...