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  2. Consumption tax - Wikipedia

    en.wikipedia.org/wiki/Consumption_tax

    A consumption tax is a tax levied on consumption spending on goods and services. The tax base of such a tax is the money spent on consumption. Consumption taxes are usually indirect, such as a sales tax or a value-added tax. However, a consumption tax can also be structured as a form of direct, personal taxation, such as the Hall–Rabushka ...

  3. Tax Brackets vs. Flat Tax Structure: Pros and Cons - AOL

    www.aol.com/finance/tax-brackets-vs-flat-tax...

    Pros and Cons of Using Tax Brackets. The ongoing debate about progressive vs. flat taxes isn’t likely to end, as what some view as a pro for a certain system is seen as a con by those on the ...

  4. Predicted effects of the FairTax - Wikipedia

    en.wikipedia.org/wiki/Predicted_effects_of_the...

    The Fair Tax Act (H.R. 25/S. 122) is a bill in the United States Congress for changing tax laws to replace the Internal Revenue Service (IRS) and all federal income taxes (including Alternative Minimum Tax), payroll taxes (including Social Security and Medicare taxes), corporate taxes, capital gains taxes, gift taxes, and estate taxes with a national retail sales tax, to be levied once at the ...

  5. Pros and Cons of Living In a State Without Income Tax - AOL

    www.aol.com/pros-cons-living-state-no-130015299.html

    But there are both pros and cons to living in a state with certain tax advantages. Pro: You’ll Have To Pay Only Federal Income Tax The top federal income tax bracket is 37%.

  6. Flat tax - Wikipedia

    en.wikipedia.org/wiki/Flat_tax

    A flat tax (short for flat-rate tax) is a tax with a single rate on the taxable amount, after accounting for any deductions or exemptions from the tax base. It is not necessarily a fully proportional tax. Implementations are often progressive due to exemptions, or regressive in case of a maximum taxable amount. There are various tax systems ...

  7. Living in the 9 States With No Income Tax: Pros and Cons - AOL

    www.aol.com/9-states-no-income-tax-160012147.html

    Texas residents may pay no income tax but do have to deal with a 6.25% sales tax rate and property taxes that are among the highest in the nation. In addition, Texas’s minimum wage is only $7.25 ...

  8. Theories of taxation - Wikipedia

    en.wikipedia.org/wiki/Theories_of_taxation

    In modern public-finance literature, a whole economy of the tax system has developed (tax system economics), which can be defined as "the overall management of public revenue of a state or integration grouping's public revenues and expenditures in order to shape smart economic policies that stimulates economic growth and development and ...

  9. The Pros and Cons of Standard vs. Itemized Tax Deductions - AOL

    www.aol.com/news/pros-cons-standard-vs-itemized...

    Read on to discover the pros and cons of a standard deduction vs. itemized deduction to decide which approach is best for you. It shields a portion of your earnings from income tax. While the ...