Calculate the tax for $25,000. For example, $10,000x40%=$4,000 in tax. Show your work!! 40% on income up to $25,000 30% on income between $25,000 and $34,000 25% on income between $34,000 and $44,000 20% on income between $44,000 and $80,000 10% on taxable income over $80,000 TOTAL TAX PAID (sum of all rows):
Calculate the tax for $25,000. For example, $10,000x40%=$4,000 in tax. Show your work!! 40% on income up to $25,000 30% on income between $25,000 and $34,000 25% on income between $34,000 and $44,000 20% on income between $44,000 and $80,000 10% on taxable income over $80,000 TOTAL TAX PAID (sum of all rows):
Chapter11: Fiscal Policy And The Federal Budget
Section11.1: The Federal Budget
Problem 2ST
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Proposed Regressive Plan (Regressive Tax)
Calculate the tax for $25,000. For example, $10,000x40%=$4,000 in tax. Show your work!!
|
40% on income up to $25,000 |
|
30% on income between $25,000 and $34,000 |
|
25% on income between $34,000 and $44,000 |
|
20% on income between $44,000 and $80,000 |
|
10% on taxable income over $80,000 |
|
TOTAL TAX PAID (sum of all rows): |
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