1. What is the function of a 17% flat tax? 
2. If your taxable income is $50,000 on the current system, what is your tax?               
3. If your taxable income is $50,000 on the 17% flat tax, what is your tax? 
4. If your taxable income is $150,000 on the current system, what is your tax? If your taxable income is $150,000 on the 17% flat tax, what is your tax? 
5. For what amount of taxable income do the two systems result in the same amount of tax? 

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In other countries, taxes are much simpler. One example of a simpler system is what is called a flat tax. Everyone pays the same percentage, regardless of income. A handful of countries use flat tax. Greenland -45%, Mongolia and Kazakhstan - 10%, and Bolivia - 13%, One of the merits of a flat tax system is that you could possibly fill out your income taxes on a postcard. It would reduce the complexity of filing taxes For now, this is a graph our current tax system and the yellow line is a graph with an arbitrary 17% flat tax. Notice how the yellow line is a simple straight line. The tax rate increases consistently for every dollar you earn. 14000 12000 10000 8000 6000 4000 2000 10000 20000 30000 40000 50000 60000 70000 00000 90000 I In other countries, taxes are much simpler. One example of a simpler system is what is called a flat tax. Everyone pays the same percentage, regardless of income. A handful of countries use flat tax. Greenland -45%, Mongolia and Kazakhstan - 10%, and Bolivia - 13%, One of the merits of a flat tax system is that you could possibly fill out your income taxes on a postcard. It would reduce the complexity of filing taxes For now, this is a graph our current tax system and the yellow line is a graph with an arbitrary 17% flat tax. Notice how the yellow line is a simple straight line. The tax rate increases consistently for every dollar you earn. 14000 12000 10000 8000 6000 4000 2000 10000 20000 30000 40000 50000 60000 70000 00000 90000 I

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The function of a 17 flat tax is to apply the same percentage of tax to all taxable income regard... View the full answer