What is the history of progressive taxation?

Can you explain the history of progressive taxation?

Progressive taxation has its roots in the early 20th century, gaining traction during the Great Depression.

What were the main reasons for its introduction?

It was introduced to address income inequality and to fund public services, especially during economic crises.

How has it evolved over the years?

It has evolved with changes in government policies, economic conditions, and public opinion, often fluctuating in rates.

Are there any countries that still use it effectively?

Yes, many countries, including the U.S. and Scandinavian nations, use progressive taxation to promote equity.

What are the criticisms of progressive taxation?

Critics argue it can discourage investment and hard work, and may lead to tax evasion among higher earners.