An Epidemic in the Government was the The American Taxpayer Relief Act of 2012

However, raising taxes on the rich and corporations is not as helpful to our economy as most people think. Although raising taxes on the top percent of people and companies appears to create more income for the government, the result will make it harder for middle class and lower class citizens to grow. Some argue that by combining several key changes, including the simplification of the tax code to avoid loopholes and the decrease of taxes on the rich and corporations, there will be an improvement in the national economy. Although this may seem a bit counterintuitive, it makes more sense when looked at closely. By lower taxes and remove all loopholes, smaller businesses are given further opportunities to grow instead of facing financial roadblocks and government

What is government? It is a system which regulates a nation, city, state, or any specific group of people. It enforces law, provides services, and more or less bands a society together. It is the ultimate servant to the people along with big corporations who for the price of capital provide services and conveniences for the betterment of the people especially in the United States. Their work is communicated in the media in a positive manner. However the media only communicates to you what the government wants Americans to know and pushes out the real issues. Many Americans fail to see that the land of the free suffers from a lack of opportunity and upward

Economically and politically, citizens are influenced by government. However, the government has never been completely favored. There are still individuals who disapprove of the style in which ruling may be viewed. In actions of that, the government incessantly corrects economics. Government exists for the sole purpose of protecting the distribution of private property along with conflicts among classes and using the Declaration of Independence as well as the Constitution as philosophical foundations to regulate inequality within society.

The tax system in the United States has changed throughout the years, with many attempts to make it "fair" or "equal" while at the same time generating enough income for the United States government to thrive. It is a complex issue, and a controversial one at that. While it may not be possible for our tax system to ever be fair, it is important to make sure it doesn 't put more financial stress and pressure on one group than on another.

There are three different types of tax systems presented in this article: Progressive income tax, Flat tax, and the Fair Tax. The progressive tax system is what we have in the US and is common in countries across the world. It bases the percentage of income tax you should pay by the amount of income you receive. Basically, if you have a large income then the rate of tax you will pay is larger and, furthermore, if you have a low income you will have a lower rate to pay. Many conservatives dislike this system because it forces the top percentage of taxpayers to pay a majority of the tax revenue. “According to the Tax Foundation, the top 1% of taxpayers have consistently paid more in federal income taxes than the bottom 90% since 2003…” It treats people differently and it allows for

The current widening income inequality is due to the substantial income disparity between the top and bottom workers in the U.S. economy. General decline in wage endangered the standard of living for low income family as they struggle with a tightened budget. In order to battle income inequality, policy makers must raise the income of the working poor by expanding tax credit program and increase its effectiveness through major modification.

It also will cut income tax rate, make the standard deduction double, and take away personal exemptions. Since there is less taxes being collected, there will be less money the government can spend. The less the government can spend the less, they can help citizens of America. The tax relief policy affect America as a whole negatively. Furthermore, the tax makes it, so the government collect less revenue, which is bad for programs that are put to help people.

The American Taxpayer Relief Act of 2012 created a combined estate and gift tax rate of 40% while raising the estate tax exemption to $5.43 million in 2015. The gift exclusion stays at $14,000 in 2015. These changes generate some estate-planning benefits that most people haven’t yet realize. For example, many wealthy people didn 't bother trying to minimize capital gains in the past because the lower tax rate of 15% was better than paying 50% in estate taxes. Now people can benefit by choosing which assets they keep until death more carefully. Appreciated assets can be held until death and might fall within the $5.43 million exemption. This could be especially important when realizing capital gains could be subject to a higher, nearly 24%

Amity Shlaes talks about how presidents such as Nixon, and Bush removed millions of Americans from the tax bracket completely and that those same exact people don’t want a proportional tax rate and want to tax the rich because “they can afford it”. That just seems unfair and unjust. The first video was very opinionated saying that the rich now make more money than before, of course they have the money now due to war times & depressions being over however, the less money they have the less likely they’re to make more investments into other things such as creating more offices, and hiring more people to work for their company

Tax time in poor neighborhood is not April but January, and this “income tax” is not what you pay but what you receive. As soon as the W-2s arrive, the working poor eager for their checks from the Internal Revenue Service (IRS) and immediately send the documents to the tax preparers who have flourished and gouged impoverished laborers since the welfare tie limits were enacted by the Congress in 1996. The checks that come from Washington include not only a refund of tax withheld but also an additional payment known as the Earned Income Tax Credit (EITC) (Shipler, 2005, p.13), which is a refundable tax credit designed to redistribute incomes and supplement low-wage workers. The EITC was initiated in 1975 and then expended under President Reagan,

There are many today who are working for low wages regardless of their skill, barely making it in today’s economy. As Americans, we care about how the poor are treated in this country. We want everyone to not only be treated with respect and dignity, especially those who are struggling the most among us. The Fair Tax may well benefit the working poor the most, and here is why. First, by eliminating the income tax and the payroll tax low income earners will have more to spend. In addition to this increase in disposable income, because most companies will no longer pay the matching payroll taxes for their employees under the Fair Tax, they will then pass that money on to their employees in the form of a raise. To further insure that the poor will benefit, the Fair Tax has included a pre-bate in the policy. The pre-bate is the amount of taxes included under the Fair Tax for the essential goods and services. The amount is determined by the poverty level, which is a level determined by the government as needed to ensure that American citizens have the basic necessities of food, clothing, and shelter. A household of four would receive $550 dollars at the beginning of every month to offset the consumption tax, making all the essential items tax free (Linder). The pre-bate will be sent to everyone regardless of income or marital status, because income is no longer considered and everyone will receive the

What is the purpose of government? The U.S. government has grown to provide much more than was originally included in the constitution. Some may argue that large government is helpful, because a large government provides services for its citizens through many different programs. While this may be, some of these programs have only created bigger problems. Prohibition is a great illustration of this, while the consumption of alcohol was lowered as a result, there was a large increase in crime. In the book The Rise and Fall of Prohibition, results from a study were published, showing that after prohibition, crime in major US cities had risen by 24%, with drug addiction going up a staggering 44.6% (Hanson, 1923). While the intent of these programs is positive, in most cases it’s one step forward and two steps backwards. In The Federalist Papers No. 2, John Jay stated, “Nothing is more certain than the indispensable necessity of government;” (Jay, 1787). While government is necessary, limits must be put in place to ensure that a government doesn’t grow too large, to the point where it grows out of control. Large governments are inefficient, limit freedoms for individuals, and oppose the idea of free enterprise. The current US government, for example, has grown much too large, there’s a government agency or department for just about everything you can imagine. This affects everyone from CEOs to average joes, from air travel to national security, the government is overly involved

The role of government has developed throughout the years changing the way we view and act in society today. For example, the national government ensure that the citizens of the United States are all treated equally, applies law and order, and provides opportunities. The government has changed dramatically since we now have social media, newspapers, and the radio. However , not only has the government provided a strong impact in society in a positive way, but it has also impacted the society in negative ways. As a nation the public has found many imperfection in our government that they want to change. Public opinion has caused negative feedback through media and political participation . The government is trying to help the people by

Over the past decades, the number of AMT taxpayer have been constantly growing, especially among the middle income class. According to Bruce \& Liu (2014), one reason for the rapid expansion of the AMT is that the AMT tax brackets are not inflation indexed whereas the tax brackets, exemptions and standard deduction under the regular tax system are periodically adjusted for inflation. Besides lack of inflation indexing, tax cuts during the early 2000s reduced tax liabilities under the regular tax system for many households without a corresponding adjustments for the AMT. The combination of lack of inflation indexation and tax cuts have pushed the AMT towards millions of taxpayers and made it an increasingly important factor in the U.S. income

What is government? Government is a person or group of people who control and make decisions for a country. It has a number of particular roles to help make a country survive and function successfully. I believe that without the roles a government provides a country would not function and would eventually fail. Therefore, I think government is necessary because without it there would not be any provided protection, resources, and regulations.