3. Suppose that the U.S. personal income tax system became a flat tax system, in which all taxpayers paid a certain percentage of their incomes in tax, and in which there are no exemptions or deductions. In which way(s) could this flat tax be more regressive than the present U.S. system? In which ways could it be more progressive than the present system?
3. Suppose that the U.S. personal income tax system became a flat tax system, in which all taxpayers paid a certain percentage of their incomes in tax, and in which there are no exemptions or deductions. In which way(s) could this flat tax be more regressive than the present U.S. system? In which ways could it be more progressive than the present system?
Chapter3: Income Sources
Section: Chapter Questions
Problem 2DQ
Related questions
Question
![3. Suppose that the U.S. personal income tax system became a flat tax system, in which
all taxpayers paid a certain percentage of their incomes in tax, and in which there are no
exemptions or deductions. In which way(s) could this flat tax be more regressive than the
present U.S. system? In which ways could it be more progressive than the present
system?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7c32a667-d44c-4dda-8295-c8466db327b8%2Fc612ede8-b786-4512-afa4-2c5664672199%2Fextnv0g_processed.png&w=3840&q=75)
Transcribed Image Text:3. Suppose that the U.S. personal income tax system became a flat tax system, in which
all taxpayers paid a certain percentage of their incomes in tax, and in which there are no
exemptions or deductions. In which way(s) could this flat tax be more regressive than the
present U.S. system? In which ways could it be more progressive than the present
system?
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
![Individual Income Taxes](https://www.bartleby.com/isbn_cover_images/9780357109731/9780357109731_smallCoverImage.gif)
Individual Income Taxes
Accounting
ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT
![Individual Income Taxes](https://www.bartleby.com/isbn_cover_images/9780357109731/9780357109731_smallCoverImage.gif)
Individual Income Taxes
Accounting
ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT