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Your friend says that regardless of whether you make $40,000 or $40 million, all income should be taxed at a rate of 15%. Do you agree or disagree? Explain why.
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Your friend says that regardless of whether you make $40,000 or $40 million, all income should be taxed at a rate of 15%. Do you agree or disagree? Explain why.

User Meet Mehta
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Disagree. Taxation systems generally employ progressive tax rates where higher incomes are taxed at higher rates compared to lower incomes. The idea behind a progressive tax system is to distribute the tax burden more equitably based on one’s ability to pay.
User Abenson
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