What would be your federal income tax if your taxable income was $108,000.00? $_____________ What is the average tax rate for $108,000.00 in taxable income? _____________% How much tax would you owe if your income increased by $25,000 to $133,000.00? $ _______________ What would be your average tax rate with $133,000.00 of taxable income? _____________% Using the 2019 marginal tax rates provided in the table below, find the marginal and average tax rates for the incomes shown. Give all answers to twodecimals.Taxable IncomeTax rate$0-$9,70010%$9,701-$39,47512$39,476-$84,20022$84,201-160,72524$160,726-$204,10032$204,101-$510,30035Over $510,30037

What would be your federal income tax if your taxable income was $108,000.00? $_____________ What is the average tax rate for $108,000.00 in taxable income? _____________% How much tax would you owe if your income increased by $25,000 to $133,000.00? $ _______________ What would be your average tax rate with $133,000.00 of taxable income? _____________%

What would be your federal income tax if your taxable income was $108,000.00? $_______ What is the average tax rate for $108,000.00 in taxable income? _% How much tax would you owe if your income increased by $25,000 to $133,000.00? $ _ What would be your average tax rate with $133,000.00 of taxable income? _____%

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter11: Fiscal Policy And The Federal Budget

Section: Chapter Questions

Problem 4WNG

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Federal excise taxes on gasoline vary widely across the developed world. The United States has the lowest taxes at USD $0.40 per gallon (or Â£0.07 per liter), Canada has taxes of $0.60 per gallon, Japan and much of Europe is $2.00 per gallon, while Britain has the highest tax at $2.83 a gallon or Â£0.5 per liter. If gasoline taxes are intended to reduce the time losses from road congestion in urban environments and gasoline pre-tax costs about Â£0.40 per liter, why might the optimal tax in Canada be 50 percent higher than in the United States? What would be an explanation for why adjacent countries would have such different estimates of the price elasticity of demand for auto driving?16
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