Actual current time in Cancun, Mexico, DST, Daylight Savings Time conversion dates 2015, GMT offset, fall time change 2015 Cancun clock.
Flat tax. A flat tax is exactly what it sounds like: a consistent tax rate applied to all tax brackets. A true flat tax would mean, as Dr. Carson explained, that everyone would pay the same tax rate regardless of income (he suggested 10% since that âworks for Godâ). Flat taxes are usually imposed on wages only, meaning that thereâs no tax on capital gains or investments.
Unlike the Civil War income tax, this one was not graduated. Everyone with an income over $4,000 paid the same 2-percent tax rate. This type of income tax is sometimes called a flat tax.. Opponents of the new income tax claimed that it was a socialistic confiscation of wealth by the federal government.