Under the flat tax, all personal and corporate income is taxed only once at a low fixed
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Under the flat tax, all personal and corporate income is taxed only once at a low fixed rate. Table 16-5 shows how such a flat tax might work. Compare the average and marginal tax rates of the flat tax with the tax schedule shown in Table 16-4 in the text. List advantages and disadvantages of both. Which is more progressive?
TABLE1 6-5.
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Average tax rates based on AGI 0 15 6 9 15 and l9 percen...View the full answer
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