A Guide to the Flat Tax: What Everyone in Business Should Know

Publication Date: September 2002

Publisher: Heritage Foundation (Washington, D.C.)

Author(s): Daniel J. Mitchell

Research Area: Banking and finance; Business

Keywords: Taxes

Type: Report

Abstract:

American companies are burdened with one of the world’s most anti-business tax systems. The U.S. tax code is littered with provisions that seem designed to undermine competition, entrepreneurship, risk-taking, and investment. And because the tax system’s abundant flaws are so deeply ingrained, no amount of tinkering or modification is likely to solve its problems. Instead, the entire Internal Revenue Code should be repealed and replaced by a simple, fair system that taxes all income just one time at one low rate--a system known as the flat tax.