Flat tax

Several candidates for the 1996 Republican Presidential nomination and some of the top Republican leaders in Congress are advocating replacing the graduated income tax with a flat tax.

Eyman's measure also would repeal the state tax on boats, 1 percent of the vessel's value, and replace it with a flat tax of $10.50 a year.

A flat tax means scrapping all income tax bands and the various exemptions and loopholes and replacing them with a single low rate.