| Here's how it works:
Suppose you earn $1,000 a year delivering newspapers. Under a Progressive
Tax, you might pay only 1% of that income in taxes. That's not a lot -- just
$10 -- because you don't earn that much to start with. |
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But what about your best friend who landed a cool job at a bike shop and
now makes $8,000 a year? Under the Progressive Tax system, he might have to
pay 10% of his income in taxes. That's $800, nearly as much money as you made
all last year! |
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And then there's your neighbor. She works 12-hour days for a big
television station. It's a high-pressure job with loads of responsibility
and stress, but she's well rewarded: her salary is a whopping $80,000.
Under a Progressive Tax system, she might pay 30% of her income in taxes --
that's $24,000, just in taxes!
Progressive Taxes takes a larger percentage of income from high-income
groups than from low-income groups.
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