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.
10. Generally, most economists feel that a _____type of income tax is a fairer way to raise government revenue than a sales tax. a. regressive. b. proportional. c. flat-rate. d. progressive. ANS: d. A progressive tax is argued to be fair because people with higher incomes pay more tax. 11. The federal personal income tax is an example of a (an) a. excise tax. b. proportional tax. c. progressive tax. d. regressive tax. ANS: c. Since the marginal tax rate increases with income, the federal ...