Search results
Results from the WOW.Com Content Network
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 ...
The second is a flat tax schedule. The differences between the two are fairly significant, and choosing one over the other is the subject of endless debate among economists, politicians and ...
The Hall–Rabushka flat tax is a flat tax proposal on consumption designed by American economists Robert Hall and Alvin Rabushka at the Hoover Institution. [1] The Hall–Rabushka flat tax involves taxing income but excluding investment. The Hall–Rabushka flat tax may include an exemption, which allows the tax to preserve progressivity.
The proposal would introduce a 9% personal income tax, 9% federal sales tax, and 9% corporate tax to replace the country's current tax system. During a debate on October 12, Cain said that his plan would "expand the base", arguing, "When you expand the base, we can arrive at the lowest possible rate, which is 9–9–9." [4]
In 2010, Fareed Zakaria proposed what he described as a "grand bargain" with tax reform for economic adversaries Paul Krugman and Niall Ferguson; an attempt to bridge their political divide with the creation of a simple and indirect Federal Sales Tax. [16]
A flat 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. They usually exempt from taxation household income below a statutorily determined level that is a function of the type and size of the household.
Kansas Republicans' tax plan features a flat income tax and other cuts to income, property and sales taxes. Here's how much taxpayers would save.
The plan was created by Dale Jorgenson, Samuel W. Morris University Professor at Harvard University, and Kun-Young Yun, Professor of Economics at Yonsei University, Korea. [1] Jorgenson states that the plan would provide big gains in economic efficiency that would result from making the tax treatment of income from corporate, non-corporate and ...