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What Is a Flat Tax? What Are the Major Advantages

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What is a flat tax? What are the major advantages and disadvantages of a flat tax compared to the progressive tax of the United States?


Definitions:

Projects

Specific tasks or programs undertaken to create value, achieve an objective or solve a problem, often within a defined scope and timeline.

Balance Due

The outstanding amount of money owed by a debtor to a creditor, which remains unpaid after any initial payments or deductions have been applied.

Current Lease

An active leasing agreement specifying the terms under which a lessee occupies or utilizes the leased asset.

Evaluation

The systematic assessment of the value, performance, or quality of a plan or entity.

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