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Originally Posted by TheFu
Why draw the line at all? Why do the rich have to pay more so the poorer don't have to pay anything. I am far from making a million a year but it bugs me that someone who makes a little more than nothing gets a tax credit which is basically my money.
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Here's two good reasons for you:
1. Progressive taxes help the economy because people with less income spend a higher percentage of it on consumables. You give extra money to the poor, they will spend it, driving the economy. You give extra money to the rich, it sits there doing nothing but collecting interest.
2. Progessive taxes help combat the natural tendency for wealth concentration inherent in capitalism. Excessive wealth concentration is dangerous for democracy because it gives one person or a group of people too much power.