![]() ![]() Importantly, flat taxes avoid impacting individuals’ and businesses’ marginal decisions, or what they will do with their next dollar of income. Flat taxes are relatively transparent and simple in that they make it easier for taxpayers to estimate their tax liability and for revenue forecasters and state policymakers to estimate how a rate cut or increase would impact revenue. An income tax is referred to as a “flat tax” when all taxable income is subject to the same tax rate, regardless of income level or assets.Ī flat tax, where a single rate is applied to all taxable income, is an appealing income tax system due to its relative simplicity, transparency, neutrality, and stability.
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