Does "flat tax" meet the criteria of tax efficiency and tax fairness/equity?

Question

Does "flat tax" meet the criteria of tax efficiency and tax fairness/equity?

Answer 1

No it does not

Answer 2

Debated many times on this board alone.  do a search and then summarize all of the debates to do your own homework....

Answer 3

That is a matter of opinion.

Answer 4

Efficiency?  Maybe.  Fairness & equity?  Hardly.

A flat-rate income tax would have to be levied at about 25% on all income (no exemptions, deductions, etc.) to raise the same revenue as the current graduated income tax.  Only the wealthiest taxpayers pay a net rate anywhere near that.  Most wage earners pay quite a bit less that 20%.  Check your own tax return and see what your net rate is.  Just divide the total tax by your income before adjustments to see what your net tax rate is.  Unless you're well into 6 figures, it's less than 25% and probably a LOT less.