The conversation between human and AI assistant.
What are proportional taxes?
Can you give me an example of how a proportional tax works?
Sure! Let's say that the flat income tax rate is set at 10%. If an individual with an income of $50,000 is taxed at a flat rate of 10%, they would pay $5,000 in taxes. And an individual with an income of $100,000 would be taxed at the same rate of 10% and pay $10,000 in taxes.