Many people are advocates for instituting a flat tax, one that would impose the same tax rate

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Many people are advocates for instituting a flat tax, one that would impose the same tax rate (such as 10 percent) on all income levels, and doing away with most deductions. They feel this would be a fairer way to impose taxes. Search the Internet for a tax calculator.

Some calculators figure the income taxes you would pay if our country had a flat tax. Others calculate taxes based on today’s system and rates. After entering various amounts of income, summarize what you learned about the tax system and the feasibility and fairness of a flat tax.

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Managing Your Personal Finances

ISBN: 9781305076815

7th Edition

Authors: Joan S. Ryan, Christie Ryan

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