What are the different types of global tax systems?
An example of an AI chatbot conversation about global tax systems and their implications.
What are the different types of global tax systems?
There are several types of global tax systems, including progressive, regressive, and flat tax systems. Would you like to know more about each?
Yes, please explain the progressive tax system.
A progressive tax system imposes higher tax rates on higher income levels, meaning the more you earn, the higher percentage you pay.
How does a regressive tax system work?
In a regressive tax system, lower-income individuals pay a higher percentage of their income in taxes compared to higher-income individuals, often through sales taxes.
What are the advantages of a flat tax system?
A flat tax system applies the same tax rate to all income levels, simplifying the tax code and potentially encouraging investment and economic growth.
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