Decides to completely overhaul the current federal income, Finance Basics

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Decides to completely overhaul the current federal income

Imagine that the U.S. Congress decides to completely overhaul the current federal income tax system because of its tremendous complexity and is considering a flat-rate income tax with no exemptions, deductions, exclusion, or credits. Compare this proposed policy to the current income tax system using the revenue policy evaluation criteria - horizontal and vertical equity, economic effects, collectability, and adequacy

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Finance Basics: Decides to completely overhaul the current federal income

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