A flat tax plan allows individuals to deduct a standard allowance of $10,000 from their wages. Assume that the flat tax rate is 12 percent. Calculate the amount of income tax paid and the average tax rate if a person was earning:

1. $30,000 a year
2. $60,000 a year..

Question

1. $30,000 a year
2. $60,000 a year..

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The Answer of A flat tax plan allows individuals to deduct a standard allowance of $10,000 from their wages. Assume that the flat tax rate is 12 percent. Calculate the amount of income tax paid and the average tax rate if a person was earning:

1. $30,000 a year
2. $60,000 a year..

A Flat Tax Plan Allows Individuals to Deduct a Standard