Flat tax

flat income taxflatflat rateflat-rate income taxflat-taxflat federal income taxflat rate taxflat 15% rateflat 16% income taxflat discount
A flat tax is a tax system with a constant marginal rate, usually applied to individual or corporate income.wikipedia
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Tax

taxationtaxeslevy
A flat tax is a tax system with a constant marginal rate, usually applied to individual or corporate income.
Some levy a flat percentage rate of taxation on personal annual income, but most scale taxes based on annual income amounts.

Tax rate

marginal tax ratetax rateseffective tax rate
A flat tax is a tax system with a constant marginal rate, usually applied to individual or corporate income.
With a flat tax, by comparison, all income is taxed at the same percentage, regardless of amount.

Proportional tax

proportionalproportion to their possessionsproportional income tax
A true flat tax would be a proportional tax, but implementations are often progressive and sometimes regressive depending on deductions and exemptions in the tax base.
Flat taxes are defined as levying a fixed (“flat”) fraction of taxable income.

Progressive tax

progressiveprogressive taxationprogressive income tax
A true flat tax would be a proportional tax, but implementations are often progressive and sometimes regressive depending on deductions and exemptions in the tax base.
The act was signed into law by President Abraham Lincoln, and replaced the Revenue Act of 1861, which had imposed a flat income tax of 3% on incomes above $800.

Consumption tax

consumptionconsumption taxesbroad-based consumption tax
Designed by economists at the Hoover Institution, Hall–Rabushka is a flat tax on consumption.
A direct consumption tax may be called an expenditure tax, a cash-flow tax, or a consumed-income tax and can be flat or progressive.

Robert Hall (economist)

Robert HallRobert E. HallBob Hall
Robert Hall and Alvin Rabushka have consulted extensively in designing the flat tax systems in Eastern Europe.

Capitalism and Freedom

The negative income tax (NIT), which Milton Friedman proposed in his 1962 book Capitalism and Freedom, is a type of flat tax.

Milton Friedman

FriedmanFriedman, MiltonMilton
The negative income tax (NIT), which Milton Friedman proposed in his 1962 book Capitalism and Freedom, is a type of flat tax.
A prime element of Laar's program was introduction of the flat tax.

Alvin Rabushka

Rabushka, A.
Robert Hall and Alvin Rabushka have consulted extensively in designing the flat tax systems in Eastern Europe.
Together with Robert Hall, he wrote a detailed flat tax plan known as the Hall–Rabushka flat tax.

Jersey

Bailiwick of JerseyIsle of JerseyIsland of Jersey
Income tax has been levied at a flat rate of 20% set by the occupying Germans during the Second World War.

Federal Insurance Contributions Act tax

FICAFederal Insurance Contributions ActSocial Security tax
For example, the United States Federal Insurance Contributions Act tax is 6.2% of gross compensation up to a limit (in 2019, up to $132,900 of earnings, for a maximum tax of $8239.80).
The Social Security component is a flat tax for wage levels under the Social Security Wage Base (see "Regular" employees above).

State income tax

income taxincome taxesstate income taxes
Most states also tax income, most of them also at progressive rates, but some use a flat tax rate.
The following eight states have a flat rate individual income tax as of 2016:

Estonia

ESTRepublic of EstoniaEstonian
In 1994, based on the economic theories of Milton Friedman, Estonia became one of the first countries to adopt a flat tax, with a uniform rate of 26% regardless of personal income.

Lithuania

LTURepublic of LithuaniaLithuanian
Lithuania has a flat tax rate rather than a progressive scheme.

Romania

ROURomanianRomânia
In 2005, the government replaced Romania's progressive tax system with a flat tax of 16% for both personal income and corporate profit, among the lowest rates in the European Union.

Value-added tax

VATvalue added taxGoods and Services Tax
Taxation systems such as a sales tax or value added tax can remove the tax component when goods are exported and apply the tax component on imports.

Single tax

single land taxSingle Tax Partysingle-tax
Pierre Le Pesant, sieur de Boisguilbert and Sébastien Le Prestre de Vauban also recommended a single tax, but unlike the physiocrats, they rejected the claim that land has certain economic properties which make it uniquely suitable for taxation, so they instead proposed a flat tax on all incomes.

Iceland

IcelandicISLRepublic of Iceland
Unlike most Western European countries, Iceland has a flat tax system: the main personal income tax rate is a flat 22.75%, and combined with municipal taxes, the total tax rate equals no more than 35.7%, not including the many deductions that are available.

Negative income tax

negative taxation
A flat rate income taxation with tax exemption implements a negative income tax as well as maintaining an actual tax rate progression at extremely low administrative cost.

Kemp Commission

The Kemp Commission, headed by former United States Secretary of Housing and Urban Development Jack Kemp, was a tax reform commission that recommended the current Income tax in the United States be replaced with a flat tax.

Optimal tax

optimal taxationoptimal corrective taxesoptimal tax theory
Third, reaching an optimal tax level could mean flat taxes.

Steve Forbes

Malcolm Stevenson "Steve" Forbes Jr.Forbes NewspapersMalcolm 'Steve' Forbes Jr.
Forbes entered the Republican primaries for President of the United States in 1996 and 2000, primarily running on a campaign to establish a flat income tax.

Laffer curve

Khaldun-Laffer CurveTaxable income elasticityelasticity of taxable income
Laffer has presented the examples of Russia and the Baltic states, which instituted a flat tax with rates lower than 35% around the same time that their economies started growing.

Income tax

income taxesincometaxes
The tax systems vary greatly and can be progressive, proportional, or regressive, depending on the type of tax.