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Reason Magazine

Business

Business & Economics

It’s time for a flat tax

Reason Magazine
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68% Informative

The bottom two tax rates in the current tax brackets are 10 percent and 12 percent , with the 12 percent bracket phasing out at about $90,000 for married taxpayers filing jointly.

In Sweden , the bottom tax rate, applied to the lowest-income taxpayers, is 32 percent ; in Britain , it is 20 percent .

A flatter tax code, without deductions and credits, will raise more revenue over time.

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