Flat Tax

A flat tax (short for flat tax rate) is a tax system with a constant marginal rate, usually applied to individual or corporate income. A flat tax falls under proportional tax as they allow certain deductions. There are various tax systems that are labeled "flat tax" even though they are significantly different.

Read more about Flat Tax:  Requirements For A Fully Defined Schema, Recent and Current Proposals

Famous quotes containing the words flat and/or tax:

    “Castaway, your time is a flat sea that doesn’t stop,
    with no new land to make for and no new stories to swap.”
    —Anne Sexton (1928–1974)

    “But the tax collector, standing far off, would not even look up to heaven, but was beating his breast and saying, ‘God, be merciful to me, a sinner!’”
    —Bible: New Testament, Luke 18:13.