Discussion 04.2: Is Our Tax System Fair?

Discussion 04.2American Tax SystemAmerican's tax system is a little fairer than the credit t gets from some citizens. The fairness of the tax system is much attributed to the changes brought about by President Barack Obama. Giving a cross look at all the taxes collected, that is; federal income, national income, workforce, sales, chattels, and commercial revenue, we realize that almost every individual contributes something. These taxes also suggest that wealthy persons provide a much higher share of their earnings than less fortunate persons.One of the un-discussed features of the American tax system is the substantial increase in tax rates towards the wealthiest Americans. The wealthiest Americans are having a higher federal tax charges on incomes that have significantly increased from approximately 37.4% to 42.6%. Also, the wealthy Americans face higher rates charges increase on capital from approximately 15% to about 23.8%. The Republican Party, under President Barack Obama, put more effort to undoing tax increment which is why the party imposed the healthcare bill to aid in cutting of tax on the rich and use the tax cuts to lower Medicaid.However, American taxes are not faultless. There are several difficulties with horizontal equity in the tax system. Sharing