Which is smaller in value, a $7,500 tax deduction or a $7,500 tax credit? Explain why. Please No more than three sentence. keep it simple.

Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter30: Government Budgets And Fiscal Policy
Section: Chapter Questions
Problem 6SCQ: What taxes would an individual pay if he were self-employed and the business is not incorporated?
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Which is smaller in value, a $7,500 tax deduction or a
$7,500 tax credit? Explain why.
Please No more than three sentence. keep it simple.
Transcribed Image Text:Which is smaller in value, a $7,500 tax deduction or a $7,500 tax credit? Explain why. Please No more than three sentence. keep it simple.
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