Business, 22.07.2019 19:30 Airport12lt

Our current personal income tax system is progressive: income tax rates rise with rising incomes and are lower for low-income individuals. some policymakers have favored a “flat tax” as a replacement to our modestly progressive income tax system. most exemptions and deductions would be eliminated, and a single low tax rate would be applied to personal income. would such a change in the tax laws alter the automatic stabilization characteristics of the personal income tax?

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Our current personal income tax system is progressive: income tax rates rise with rising incomes an...

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