This video from Prager U does an excellent job of explaining how the progressive income tax is calculated and how it works.
Most of us know there are differences in the way taxes are calculated based on income, expenses and other factors, but don’t really get what those differences are or how they work against those who outperform their peers. This video uses familiar storytelling techniques to explain what’s really going on in an accessible and fun way.
The video tells the tale of three brothers – triplets raised in the same home, with the same skills and same opportunities. They even have the same job and income – each is a carpenter earning $25 per hour.
They do have differences, though. Each brother chooses to work a different number of hours per week, ranging from 20-60, so each has a different income at the end of the year. While each brother in this example is married, some wives work and some do not.
The PragerU video looks at how each family spend, how they saved and what factors made a difference for them. It also looked at how working hard and saving impacted the brothers’ lives – and how each felt about fairness. The video uses a home improvement to explain how the hardest working, highest earning and most diligent saving brother is saddled with both the most significant expenses – and the most guilt – from his lower performing brothers.
Despite having the same opportunities, one brother works harder and is basically punished by a progressive tax code, much like the one used by the IRS to tax working citizens and sometimes reward those who choose not to work instead.
A quick view of this video will turn most hardworking citizens away from complacency and towards fairness, as far as taxes (and guilt) are concerned.
~ Liberty Video News
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