A progressive tax is a system of taxation where the tax rate increases as the taxpayer's income increases. A progressive tax reduces income inequality by redistributing wealth from high-income to ...

Your marginal tax rate is the highest income tax rate you’ll pay on your income. Because the U.S. has a progressive tax system, different tiers of your income are taxed at different rates. The ...

Herman Cain’s bizarre 9-9-9 plan would replace much of the current tax code with a 9 percent individual income tax and a 9 percent sales tax. He calls it a “flat tax.” Next week Rick Perry is set to ...

Tax season is approaching, and millions of Americans will soon turn their attention to tax brackets. Every year, the Internal Revenue Service announces new tax brackets, tiers of income that are taxed ...

Over the past four years, four states have abandoned progressive income-tax formulas to embrace a flat income-tax rate like that in Illinois. That brings the number of flat-tax states to 14, with a ...