Overstepping on the Biblical Principles of Taxation

Economics Analysis Assignment: Taxation
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Economics Analysis Assignment: Taxation
Taxation has remained a highly debated discourse in the United States as different players champion equitable policies while others demand equality-based approaches. Trends indicate that the United States has a very robust taxation system influenced by the federal government but dependent on other state-based policies (Scheuer & Slemrod, 2021). The government has formulated various policies that draw taxes from different avenues, including sales through value-added tax, property, imports, and income. Despite economic experts classifying this taxation system as unique and distinguished, it still receives significant criticism. President Biden’s regime’s recent proposition about billionaire income tax policy represents one of the ways that the taxation in the U.S. has overstepped biblical principles.
As a member of the democratic party, Biden has a history of favoring increased taxes for the American wealthiest class. Similar propositions to the current one have emerged in the country in the past but failed to succeed due to the increased opposition from the republican side. According to Stein (2022), the government has unveiled plans to target these wealthy Americans with a 20% minimum rate for households worth over $100 million. As a result, this option indicates that a significant proportion of the American tax revenue will start flowing from the billionaires in the country. However, this approach has raised questions on whether it maintains the principles of proportionality or unfairly taxes the rich to benefit the poor.
Proposing to increase taxes for a specific group of citizens discriminately translates to excessive taxation. Although one can argue that individuals with more wealth should contribute more to the tax compared to those with lesser ones, advocating for this approach triggers a debate about proportional and just treatment by the government (Scheuer & Slemrod, 2021). The truth is that people wil...