Proposed Regressive Plan 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 $95,000. For example, $10,000x40%-$4,000 in tax. Show your work!! Calculate the tax for $25,000. For example, $10,000x40%-$4,000 in tax. Show your work!!

Proposed Regressive Plan 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 $95,000. For example, $10,000x40%-$4,000 in tax. Show your work!! Calculate the tax for $25,000. For example, $10,000x40%-$4,000 in tax. Show your work!!

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Similar questions

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