Flat Tax

What does it Mean? A system that taxes everyone at the same rate, regardless of their income bracket.
Investopedia Says... Supporters of a flat tax argue that it gives people incentive to earn more, because they wouldn't be penalized by graduating to a higher tax bracket (as they would in a progressive-rate system).

Terms Related Links

Dual Rate Income Tax
Income Tax
Progressive Tax
Regressive Tax
Tax Bracket
Tax Fairness

Terms Related Links
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