Flat Tax
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). Related Terms:
Dual Rate Income Tax
Income Tax
Progressive Tax
Regressive Tax
Tax Bracket
Tax Fairness |