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Assume That the Government Proposes a Negative Income Tax That

Question 298

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Assume that the government proposes a negative income tax that calculates the taxes owed as follows: Taxes Owed = (1/3 Assume that the government proposes a negative income tax that calculates the taxes owed as follows: Taxes Owed = (1/3 Income) - 10,000.A family that earns an income of $60,000 will A) pay $10,000 in taxes. B) receive an income subsidy of $3,000. C) receive an income subsidy of $10,000. D) neither pay taxes nor receive an income subsidy. Assume that the government proposes a negative income tax that calculates the taxes owed as follows: Taxes Owed = (1/3 Income) - 10,000.A family that earns an income of $60,000 will A) pay $10,000 in taxes. B) receive an income subsidy of $3,000. C) receive an income subsidy of $10,000. D) neither pay taxes nor receive an income subsidy. Income) - 10,000.A family that earns an income of $60,000 will


A) pay $10,000 in taxes.
B) receive an income subsidy of $3,000.
C) receive an income subsidy of $10,000.
D) neither pay taxes nor receive an income subsidy.

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