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.
Definition of 'Regressive Tax'. Tweet. This system of taxation generally benefits the higher sections of the society having higher incomes as they need to pay tax at lesser rates. Definition: Under this system of taxation, the tax rate diminishes as the taxable amount increases.efinition of 'Regressive Tax'. Tweet. This system of taxation generally benefits the higher sections of the society having higher incomes as they need to pay tax at lesser rates. Definition: Under this system of taxation, the tax rate diminishes as the taxable amount increases.