flat tax

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flat tax

n.
An income tax having a single rate for all taxpayers regardless of income level and type.
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However, in a democracy, political competition requires a combination of a flattax rate (or broad-based) with other provisions (exemptions, deductions, exclusions) aimed at differentiating.
The field of more established Republican candidates was so light four years ago that the media (and some voters) took Forbes and his flattax proposal sort of seriously for about four months.