Concept information
Preferred term
flat tax
Definition
- The flat tax is a proposal to replace the current federal income tax code with a simple one-rate tax on all earned income. Instead of a system of progressive rates in which the percentage of tax taken increases as income rises, all income would be taxed at the same rate, 17% in some proposals, and the only deduction allowed would be a personal deduction. [Source: Encyclopedia of Business Ethics and Society; Flat Tax]
Broader concept
Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/flat_tax
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