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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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If Mr Cowenwishes to leave a lasting mark, he should look to the countries of EasternEurope that have so successfully slimmed their tax codes into a simple flattax. He predicts "the next flattax countries will probably be Hungary and the Czech Republic". Both the Kemp-Kasten Fair and Simple Tax and the Bradley-Gephardt flattax proposal acknowledge that we are now at the point of diminishing returns on the |
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