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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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Former Congressman Armey based his flat-tax proposal on this model. Engberg concluded by saying, "The fact remains: the flat-tax is a giant, untested theory. During the 45-minute forum, Forbes touted a school voucher plan, his flat-tax proposal and a cure for the nation's ailing Social Security system. |
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