flat tax

Cultural  

1. 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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Example Sentences

The American Legislative Exchange Council last month highlighted three other states—Kentucky, Mississippi and Oklahoma—that have legislated the end of their own income taxes, while the Tax Foundation updated on the rush of states to adopt a flat tax.

From The Wall Street Journal

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

From Seattle Times

In 2022, Iowa moved to a flat tax, initially set at 4.4% but scheduled to drop eventually to 3.9%.

From Seattle Times

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

“I don’t see that as something that I could support,” Evers said of the flat tax last month.

From Washington Times