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Flat tax |
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Flat tax A tax which is levied at the same rate on all levels of income. Antithesis of progressive tax.
Flat tax. A flat tax, also known as a regressive tax, applies to everyone at the same rate, as a sales tax does. Advocates of a flat income tax for the United States say it's simpler and does away with the kinds of tax breaks that tend to favor the wealthy. Opponents say that middle-income taxpayers would carry too large a proportion of the total tax bill. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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The AICPA is striving to provide policymakers and interested individuals with a clear understanding of the issues and alternatives involved in federal tax reform, and to foster informed discussion by providing unbiased information and analysis by updating its 1995 study, Flat Taxes and Consumption Taxes: A Guide to the Debate. Among the alternatives considered are flat taxes and sales taxes. Estonia, Latvia, Russia, and Ukraine have flat taxes, and Slovakia is studying one. |
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