The American 1040 Tax Form for 2020 is the next step in the transformation of our tax system into a progressive tax system. The progressive tax structure places a heavier burden on those with more income. It also moves government revenue to a more accurate level.
Our government system has been built over centuries and it is very complex and intricate. Only with our growing knowledge of how the government functions can we improve it. It is also the responsibility of the government to make sure that it follows through with its promise of fairness.
The Obama administration has done their best to work within the confines of our government to improve the complex and intricate tax system. It has been noted that tax payers are beginning to take their fair share of the burden. It has been said that this has caused some middle-class Americans to pay more than they would have in the past. The question is will this continue to be the case.
With the increasing tax burdens there has been a larger burden placed on the economy and job creation. Many small businesses have closed their doors, as it is a difficult endeavor for many entrepreneurs to stay afloat. There is a concern that if this trend continues, we may lose our overall manufacturing base and our economic recovery will be thwarted.
With this concern being voiced by government regulators, how will the government make it possible for middle-class families to not be burdened with so much. Those who believe that governmental regulators should not make changes in a tax code that benefits them, however questionable the intentions, are not showing their good judgment. They are not demonstrating the sense of fairness that government should provide.
The government tax system must balance between those who can afford to pay higher taxes and those who cannot. In the United States, this is seen through the application of the federal income tax system. In the end, it has been the middle class that pays the greater portion of taxes and the government for providing a progressive income tax rate structure.
There are different ways that the economy has been damaged. Some are caused by the damage done to the economy through the accumulation of debt. We see this in home foreclosures and people losing their home to foreclosure. These examples of market collapse are seen in our national debt statistics.
The tax system also was a part of the problem. They have placed an unfair burden on middle-class taxpayers, as opposed to the wealthy. The money that was not collected in the previous years was then used to reduce the debt that had accumulated.
When time increases, this is an unfair burden. In fact, it has been said that the accumulated debt makes the United States government the largest debtor nation in the world. In order to eliminate this inequity, those who stand to lose the most under the current tax system, the middle class and the lower-income taxpayers, must speak out and support others who are working hard to decrease the burdens placed on their backs.
Government will not go away and the results are becoming apparent. When government attempts to solve the problem of revenue generation through a rigid tax code, what it ends up doing is placing additional obligations on the individual taxpayer. Many of the unfortunate consequences are not only financial but in terms of the way in which we live our lives.
The government does not solve problems by doing nothing and this is a lesson that is taught at our public schools. Our government does not solve problems by going back to the drawing board. A middle-class person who speaks out against unfair treatment of the middle class must be well educated in the history of government and how government has changed to make changes.
It is necessary to know what the tax system used to be like in order to have a realistic assessment of how the present tax system works. and what could be done to ensure that the United States tax system remains fair. in a progressive tax system and all major changes need to be monitored closely by the Treasury Department of Revenue.Toggle panel: All in One SEO PackHelp