Pros And Cons Of Flat Tax

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Is flat tax beneficial for the society?
Flat tax may bring about a transformation to the society.
Pros:
It is fairly simple easy to understand and comply with, thereby reducing errors and tax fraud It promotes sustainable development
Key advocates of the flat tax rate believe that people can be encouraged to work harder to earn one`s fortune because they won’t be afraid of a larger tax penalty for a bigger income. In addition, more businesses will be more willing to invest. This may bolster progress in more stable economic growth and higher overall tax revenue.
Cons:
It favors the wealthy.
Those who are earning bigger income can enjoy paying less tax, so they end up with more money, further widening the gap between the rich and the poor.
Let’s go with another case in point: Person 1 earns $1,000 while
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Minimum wages may raise the challenge of inequality. Why it is so?
• The minimum wage is not related to job cuts.
I will provide a case in point.
According to the study of fast food restaurants by David Card and Alan Krueger in 1992 after increasing the minimum wage, employment in restaurants also increased. Thus raising the minimum wage did not reduce employment.
• The minimum wage leads to an increase in the standard of living. According to the International Labor Organization, the existence of the minimum wage in the country provide an incentive for getting a job, rather than live on unemployment benefits. If the state introduces a minimum wage, then there is a narrowing of the gap between the rich and the poor.

Minimum wages do not raise the challenge of inequality. Why it is so?
The minimum wage leads to unemployment.
According to the Economist, the introduction or increase of the minimum wage results in companies being forced either to reduce investments in the development of employees or to fire them. The growing number of unemployed people certainly can not lead to a narrowing of the gap between the rich and the
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