Instead, they will set a single tax rate of 12.5% for all companies.
The Bachus bill appeals to states because, although it would not require a single tax rate in jurisdictions within a state, it would authorize states themselves to set a single rate, Frieden said.
Rather than adopting a single tax rate per state, as the DMA demanded, the SSUTA made only "cosmetic" changes, and the states are "cheating" on even those, DMA tax counsel George S. Isaacson says.
Clinton's support of the Internet Tax Freedom Act currently before Congress puts him at odds with the nation's governors, who want to establish a single sales tax rate for online shopping.
No Republican, not even Ron Paul, is going beyond the status quo to insist that top marginal tax rates must be cut by at least a third (ideally scrapping the current income-tax system altogether and replacing it with a pro-growth, low-single-rate tax system that does not punish saving, investing and entrepreneurial risk-taking as the current progressive income tax does).
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He advocated a single 19% tax rate on all income (including, flat-taxers take note, on capital gains).
Businesses, who pay a single 32% tax rate, can deduct all investment spending (but not interest expenses).
This levy would repeal nearly all federal taxes (including the income tax and the payroll tax) and replace them with a single-rate national sales tax on the purchase of all goods and services.
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Not only did it approve a bill allowing limited private-sector participation in health care, but it passed a law making Alberta the first province with a single provincial income-tax rate, of 10.5% in its case Canada's answer to the flat-tax idea of many Republicans in the United States.
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And all the Alliance's would-be leaders favour an Albertan-style single-rate federal income tax (of 17%).
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Sensibly, President Putin has thrown out many of these exactions and given Russia a single-rate, flat tax system.
Our own Steve Forbes has argued that one way to clean up the tax code and expose hidden taxes is through the adoption of a federal "flat" tax, a single rate for individuals and business that would eliminate most of the deductions and exemptions now in place.
Then in the 1986 tax reform, he consolidated all the lower rates into a single 15% rate, effectively the income tax rate for the middle class.
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First, an income-tax system with a single rate remains progressive the rich pay a higher proportion of their income than the poor as long as it is combined with a tax-free allowance.
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The Bush Administration's proposed new savings accounts are a step--a remarkably bold one--toward a radical tax change in the U.S. This revolution is moving toward what I and others have long advocated: a flat tax--an income tax system with a single rate that would apply after a high threshold and that would exempt levies on capital gains, dividends and interest.
The banks profit from investing in solar in two ways: They get tax advantages (the investment tax credit) as well as a single-digit rate of return.
Civic Platform has promoted a single rate of 15% for value-added tax and income tax, wants to shrink government and favours faster privatisation of the state's remaining assets.
He introduced a sliding scale that made capital-gains tax highly complex, and then reversed himself, introducing a single rate of 18%.
However it rejects any call for a single VAT rate across the EU, and references to a financial transaction tax were removed during committee stage.
Indeed, a single income tax generated so much revenue in Colorado that one state lawmaker actually proposed reducing the rate 10 years after its implementation.
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Had they remained single, neither Howard nor Beth would have each pay tax on their ordinary income at a maximum rate of 33%, and all of their dividend income would be taxed at 15%.
They enjoy a much lower rate, in the single digits in countries like Japan and UK, where corporate tax rates are similar to that in the U.S., with American companies falling in the middle of the two.
Analysts expect the move to drive down Ocwen's effective tax rate, which averaged nearly 37% in the last several quarters, into the single digits, saving the company tens of millions of dollars each quarter.
He has advocated a simple two-rate personal income tax system, under which individual taxpayers could fill out their returns on a single sheet of paper.
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