States’ ‘flat tax’ mania: Better for taxpayers or another gift to billionaires?

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  • More states are enacting the ‘flat tax’
  • A single-rate income tax means everyone pays at the same rate
  • Critics say it lets the rich of the hook — again

With President Joe Biden proposing to force billionaires to shoulder higher income tax burdens, more states have been employing a handy old idea to head in the opposite direction.

They have embraced the flat tax or flat-rate tax as a single-tier system is known. It is hailed by many GOP governors and legislatures as a way to promote what they perceive as greater fairness for all taxpayers and to attract business to their states.

via USA TODAY

April 10, 2022 at 08:22AM

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