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.
The proposed compromise between a flat tax and a progressive tax. A graduated flat tax is characterized by having minimal tax brackets and low tax rates. An example of a graduated flat tax was the modified flat tax system that was part of the Tax Reform Act of 1986.