Flat tax

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Flat Tax is a single tax rate, which is coupled with the elimination of all or most exemptions, on all taxpayers.

The Flat Tax, as far as modern politics are concerned, was first popularized by Steve Forbes in his 1996 Presidential Primary campaign.[1]

The current U.S. Income tax is progressive; it increases the rate paid by the taxpayer as income increases. Flat Tax supporters call that unfair and state that the Flat Tax treats all tax payers equal as it has one single bracket.

In 2008, Bulgaria joined the group of countries in Central and Eastern Europe that adopted a flat tax. [2]

See also

References

  1. # Steve Forbes, 2005. Flat Tax Revolution. Washington: Regnery Publishing. ISBN 0-89526-040-9
  2. http://author.heritage.org/Press/Events/ev071708b.cfm
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