flat tax

(redirected from Flat Tax Plan)
Also found in: Financial.

flat tax

n.
An income tax having a single rate for all taxpayers regardless of income level and type.
Mentioned in ?
References in periodicals archive ?
I propose simplifying the income tax structure by adopting the top marginal rate, 4.54 percent, as the new flat income tax rate.<br />My flat tax plan is expected to generate more than $1 billion per year in additional revenue compared to now.
Ted Cruz's flat tax plan, opposes the confirmation of Judge Merrick Garland to the Supreme Court and advocates an aggressive timber harvesting program on public lands.
Ted Cruz (R., Texas), who is running to be the Republican Party standard bearer in this year's presidential election, is campaigning in part on a proposed reform he is calling the "Simple Flat Tax Plan." Some tax policy experts have said that Cruz is calling for a type of value-added tax (VAT) that is currently not seen in the United States and would replace personal income taxes with a broad tax on all kinds of income, levied on businesses and organizations.
Campaigning against the backdrop of every-town factories, the Texas senator is touting his flat tax plan more than ever and promising in Trump-like parlance to bring back jobs from Mexico and China.
They are less likely to favor sweeping proposals to cut income taxes for everyone or to install a 10% flat tax plan. A significant segment of Americans say they don't know enough about these tax proposals to have an opinion.
Nine countries have adopted a flat tax plan and their economies have grown an average of 7.6% a year.
Earlier this year, Steve Forbes reemerged with another recycled idea for tax simplification: a "17% flat tax plan." His new book and a Wall Street Journal "Commentary" in August scored high on perceptiveness about the problem, but fell short on practicality.
The authors provided an in depth discussion of some of the major alternatives to the federal income tax including a national retail sales tax, a value-added tax, the Armey Flat Tax Plan and the Nunn-Domenici Unlimited Savings Allowance (USA) Tax.
The Kemp flat tax plan would eliminate the benefit of tax-exempt financing for cities, eliminate the deductibility of state and local taxes, and eliminate the low income housing tax credit.
Some callers claimed to be conducting a poll, others just spewed criticism--of Forbes's flat tax plan or his position on gays in the military--and hung up.
The most heavily promoted flat tax plan exempts interest, dividends and investment gains from tax.