Ukrainian Law Blog
Freedom means the supremacy of human rights everywhere
Wednesday, December 20, 2017
Pros and cons of soak-the-rich taxes
With a billionaire for president and major tax reform underway, Americans are divided about whether the wealthy bear their “
fair share
” of the
tax
burden. Are
soak-the-rich tax
es necessary to keep the nation afloat?
Soak-the-rich taxes, defined
“A soak-the-rich tax is any tax that charges more for higher incomes,” says
Arvin Vohra
, author, educator, and current vice-chairman of the Libertarian National Committee. That would include progressive taxes like the federal income tax, whose series of tax brackets take a bigger cut of higher income.
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