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03

Income Taxes

   
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Title: Income Taxes
 
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Subject: Business
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Date: November 13, 2001
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Length: 14 / 3653
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A progressive tax taxes differentially based on how much has been earned. For example, the first $10,000 in earnings may be taxed at 5%, the next $10,000 at 10%, and any more income at 20%. The tax code is not only a means of raising revenue to pay for government services...
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It also impacts an astonishing array of economic and social activities, from homeownership to education and child care to support for low-income workers. Taxes contribute, as part of the problem or as part of the solution, to many of the challenges our nation faces...
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