Flat tax fairness/equity
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The concept of a "flat tax." Can you please explain to me how this tax scheme works and does it meet the criteria of tax efficiency and tax fairness/equity?
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Solution Summary
This solution provides an assessment of the concept of a flat tax in terms of fairness and equity.
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An efficient tax would meet these criteria, as set forth by Adam Smith:
-Certainty (the amount, time and place of payment is certain);
-Collection that is convenient and cheap.
A flat tax would meet these criteria. A flat tax is simply a straight percentage of your income, without regard to how much you make. Sales taxes are a good example of this type of taxation.
The ...
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