Homework Answers
In 2017 : Income = $200,000 and Income tax = $4,300 ,this means tax rate = (4300/200000)100 = 2.15%
In 2018 : Income = $220,000 and Income tax = $5,100, this means tax rate = (5100/220,000)100 = 2.32%
Because as income increases from 2017 to 2018 , income tax rate increases , this implies that the individual experience progressive taxation.
Marginal state income tax rate in 2018 = [(5100-4300)/(220000-200,000)] 100 = (800/20000)100 = 4%
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tax proposal has income as the tax base. Calculate the marginal tax
rate for an income of $5,000 and an income of $40,000. Then,
calculate the percentage of income paid in taxes for an individual
with a pre‐tax income of $5,000 and for an individual with a pre
tax income of $40,000. Classify the tax as being proportional,
progressive, or regressive. Round answers to two places after the
decimal, where applicable.
Tax Proposal: All income is...
For
purposes of assessing income taxes, there are three official income
levels for workers in a small country: high, medium, and low.
The table to the right gives the marginal tax rate for the
last hour on the job during a 40-hour workweek for each of these
three worker types.
Based only on this information, this nations income tax system
appears to be
A. progressive
B. proportional
C. regressive
Worker type Low-income worker Medium-income worker High-income worker Marginal tax rate...
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