POTENTIAL INTRODUCTION OF FLAT TAX ON PERSONAL INCOME IN THE UNITED STATES OF AMERICA IN 2007 AND A DISTRIBUTION OF REVENUE

Pawel Uminski
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Pawel Uminski: Nicolaus Copernicus University

Equilibrium. Quarterly Journal of Economics and Economic Policy, 2010, vol. 5, issue 2, 221-231

Abstract: Article presents the effects of the potential introduction of the flat tax for the United States economy in 2007. The USA is labelled as the most capitalist economy worldwide1. This is confirmed by a lot of economic indicators and ideological bases which rule in the USA. Nevertheless, all over the history progressive income taxes have functioned in the American economy against the views of extreme capitalist theorists. Even that hasn’t protected America from huge income inequality. Lots of inequality indicators for the USA are the worst among other developed countries. As statistical data reveal, the introduction of the flat taxation in personal taxes would result in the increase of the population income inequality. The aim of this paper is to present direct and static effects of the introduction of the flax tax on personal taxes in the Unites States in 2007. The main emphasis is on income and inequality effects of that change. The analysis is carried out with descriptive and statistical methods.

Keywords: tax system; flat tax; distribution of revenue (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:pes:ierequ:v:5:y:2010:i:2:p:221-231

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