Flat tax
Personal Finance
A flat tax, also known as a regressive tax, applies to everyone at the same rate, as a sales tax does.
Advocates of a flat income tax for the United States say it's simpler and does away with the kinds of tax breaks that tend to favor the wealthy. Opponents say that middle-income taxpayers would carry too large a proportion of the total tax bill.
Business› Finance› Personal Finance
Income Tax
This is another term for a proportional tax.
- — Understanding Taxes Student Glossary retrieved 2014-05-16