flat tax

Cultural

A single tax rate that applies to everyone obligated to pay the tax. Sales taxes are flat taxes. There have been proposals to substitute a flat tax on income for the current graduated tax, which taxes higher incomes at a higher rate. Proponents argue that the flat tax is fair and simple. Opponents view it as a bonanza for the wealthy.

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flat tax

One executive raised the possibility of introducing a flat tax dedicated to narrowing the country’s deficit.

From The Wall Street Journal ● Aug. 1, 2026

The 13% flat tax was put into effect in an attempt to discourage tax evaders and boost the state’s revenue.

From Seattle Times ● May 28, 2024

Alessandro Santoro, finance professor and a former Treasury official who helped draft parts of Rome's post-COVID Recovery Plan under Meloni's predecessor Mario Draghi, downplayed the positive effects claimed by proponents of the flat tax model.

From Reuters ● Mar. 14, 2023

As the state's fiscal problems grew in the following decades, governors and legislators repeatedly raised the flat tax rate until it was up to 5% on individuals.

From Salon ● Jul. 7, 2022

Illinois currently has a flat tax rate of 4.95 percent.

From Washington Times ● Jun. 23, 2020

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Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023