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What are the benefits of a flat tax system?
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The primary benefit of a flat tax system is that it simplifies the taxation process for individuals and businesses. By having a single rate, taxpayers can calculate their taxes quickly and easily without needing to itemize deductions or consult with an accountant. Additionally, because there are fewer deductions available, this type of taxation system reduces the potential for tax fraud or abuse by eliminating loopholes. Furthermore, a flat tax system often results in lower overall tax rates, which can lead to greater economic growth and job creation.