Welcome to Who Benefits From That
This is a platform dedicated to fostering discussions about current government and industry topics and their impact on society and individuals. Our mission is to provide a politically neutral space where anyone can learn about the various issues affecting our world and engage in meaningful conversations about their effects.
With a focus on the voice of a layperson, we aim to simplify complex topics and present them in a way that is easy to understand. Our website features a list of diverse and thought-provoking topics, along with relevant facts and data, to spark discussion and encourage everyone to share their perspectives.
Whether you are looking to stay informed, engage with others, or simply broaden your understanding of the world around you, Who Benefits From That is the perfect place to start. Join us in our quest to make sense of the issues that matter most and see who benefits from them.
Flat Tax:Â Is it a good thing?
A flat tax refers to a single tax rate being applied to every taxpayer regardless of income. Typically, a flat tax involves no deductions or exemptions. However, some politicians have proposed flat tax systems that keep certain deductions in place.
Most flat tax systems or proposals do not tax income from dividends, distributions, capital gains, or other investments.
Supporters of a flat tax system suggest that it gives taxpayers an incentive to earn more because they will not be penalized by higher rates (as with a progressive system where income falls into progressively higher tax brackets). Also, they argue that a flat tax system makes filing tax returns easier.1
Critics of flat taxes argue that such a system places an unfair burden on low-wage earners as it lowers tax rates on the wealthy. Some critics believe a progressive tax system is fairer than a flat tax system.
While a flat tax imposes the same tax percentage on all individuals regardless of income, many see it as a regressive tax. A regressive tax is one that imposes a greater tax burden on those with lower income than on those with higher income.
https://www.investopedia.com/terms/f/flattax.asp