Definition of Flat Tax
What is a flat tax? What is the definition of the term flat tax? What does the term flat tax mean?
A flat tax system is one that sees all of the citizens of a country paying the same income tax rate, regardless of whether they are earning $10,000 a year or $1,000,000 a year. This is different from the traditional progressive tax systems in which people enter higher tax brackets if they earn more money.

A number of countries throughout the world currently use a flat tax system. When Vladimir Putin was elected President of Russia, one of his first acts was to introduce a 13% flat tax system in the country. The results were immediate, as Russia's tax revenues soared by approximately 50%.
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