Title: Progressive Tax System: Definition, Pros & Cons - Video & Lesson Transcript | Study.com
Headings: Progressive Tax System: Definition, Pros & Cons
Progressive Tax System: Definition, Pros & Cons
Lesson Transcript
What Is a Progressive Tax System?
Pros of the Progressive Tax System
Cons of the Progressive Tax System
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Progressive Tax System: Definition, Pros & Cons
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Pros of the Progressive Tax System
Income Equality - This is one of the biggest pros that progressive tax advocates promote. A progressive tax system really acts as a tool for redistributing income from the upper class to the lower and middle class. Those individuals who earn more pay more into the federal government. This helps keeps the income gap from growing wider between the rich and the poor. Social Justice - Some argue that it is morally right that those who can afford to pay more in taxes should do so. Those that have very little income should be helped out by those who can afford to help. A progressive tax allows governments to collect money from those who can afford to pay, and uses it to help create a society that is more happy as a result.