About half of the Affordable Care Act is financed through a. added taxes on medical-device makers and drug companies b. projected savings in Medicare payments to insurers and hospitals c. high-income families paying more in Medicare payroll taxes d. income taxes on all families above the poverty line
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- Chase Cutter has a marginal tax rate of 33 percent, a state income tax rate of 3.5 percent, and a city income tax rate of 0.5 percent. The tax for Social Security and Medicare is 7.65 percent. What would be the effective marginal tax rate on your last dollar of earnings?Calculate the after-tax cost of debt for a Clinic, a for-profit healthcare provider, assuming that the coupon rate set on its debt is 11 percent and its tax rate is 20 percent? Calculate the after-tax cost of debt for a clinic Clinic, a for-profit healthcare provider, assuming that the coupon rate set on its debt is 11 percent and its tax rate is 40 percent?Solve the problem using 6.2%, up to $128,400 for Social Security tax and using 1.45%, no wage limit, for Medicare tax. What are the social security and Medicare withholdings (in $) for an executive whose annual gross earnings are $137,500?
- Solve the problem using 6.2%, up to $128,400 for Social Security tax and using 1.45%, no wage limit, for Medicare tax. What are the social security and Medicare withholdings (in $) for an executive whose annual gross earnings are $135,500? Social Security$ Medicare$Round your answer to the nearest penny. Input dollars and cents. 1. Frankie earned $28,700 last year. If Social Security tax is $6.20 tax per $100 earned, then how much Social Security did they pay last year? 2. Fannie earned $38,700 last year. If Medicare tax is $1.45 tax per $100 earned, then how much Medicare tax did they pay last year? 3. Last year Peta had an annual income of $23,500. They paid $1,457 in Social Security Tax, $340.75 in Medicare Tax, and $2,622.50 in Income Tax. What was Peta's net annual income? 4. Last year Nuvua had a net annual income of $30,516. What was their net monthly income last year?According to a professional analysis of one proposed federal tax cut (by the accounting firm Deloitte and Touche), the cut would have resulted in the following income tax savings: a single person with a household income of $41,000 would save $211 in taxes; a single person with a household income of $530,000 would save $12,838 in taxes; a married couple with two children and a household income of $41,000 would save $1208 in taxes; and a married couple with two children and a household income of $530,000 would save $13,442 in taxes. Find the absolute difference in savings between a single person earning $41,000 and a single person earning $530,000. Then express the savings as a percentage of earnings for each person. Find the absolute difference in savings between a married couple with two children earning $41,000 and a married couple with two children earning $530,000. Then express the savings as a percentage of earnings for each couple. Write a paragraph either defending or…
- If the Potinsky household spends $49,600 annually on all living expenses and long-term debt, calculate the amount recommend for an emergency fund. How might household circumstances, e.g., wage earners in the household, available credit, and type and stability of employment, affect this decision? 1. The emergency fund amount would range from $? to $?. Round to the nearest dollar and enter the range from lowest to highest. 2. The (higher/lower) the number of wage earners in the household, the (more/less) credit available, and the (higher/lower) the stability of employment; the higher the emergency funds should be.You have been hired for your dream job in healthcare. Your salary is $10,000 per month. Your taxes are $2500 per month. Your rent, food and transportation are a total $5000 per month. How much is your gross income? How much is your disposable income? What is another more common word for disposable income? How much is your discretionary income? Give me one example of what you would use your discretionary income for and how much you'd spend on that item?Why is the percent decrease in taxes for families in the $10,000 to $20,000income bracket 3.4% while these families receive only 1.3% of the tax cut?Give an example that shows this is possible.
- Use the composition of federal outlays and receipts and assume that the total revenue for the year is $ 3 trillion. Social Secuirty and Medicare are 32%. Calculate how much revenue came from Social Secuirty , give the answer in billions.One year from today, the U.S. government will spend roughly $850 (in billions) on Medicare andMedicaid reimbursements to hospitals and medical care providers. Assume the relevant discountrate is 5%.If expenditures on Medicare and Medicaid continue to grow at an annual rate of 4%,what is the present value of all future government expenditure on these programs? Answer correctly with proper explanationSolve the following problem using 6.2%, up to $117,000, for social security tax and 1.45%, no wage limit, for Medicare tax. Kristy Dunaway has biweekly gross earnings of $1,550. What are her total social security and Medicare tax withholdings for a whole year? Round to the nearest cent when necessary. Social security: $ Medicare: $