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 'Welfare Loss Of Taxation'. The decreased economic well-being caused by the imposition of a tax. Taxing any product or activity makes it less attractive and gives people less incentive to purchase or undertake it.REAKING DOWN 'Welfare Loss Of Taxation'. The market inefficiency that occurs when people change their behavior to avoid a tax creates a loss to society.