It is generally agreed that there are three primary tax rate structures utilized in this country, a progressive rate structure, a proportional rate structure, and a regressive rate structure. Various structures are used in different applications. For this paper, you are to describe each of these rate structures, list the pros and cons of each rate system, and then select the one rate structure you feel would be best utilized by the federal government to tax individual and business entities to support the running of the government, and support your selection with detailed reasons why it would be the best of the three available options. The paper must
- Identify the main issues of the topic.
- Contain and reference new learning that has occurred.
- Build upon class activities or incidents that facilitated learning and understanding.