Assume that the government proposes a negative income tax that calculates taxes owed by the following formula,
Taxes Owed = (1/3 Income) - $10,000.
Compute the tax that would be owed given each level of income.
a.$120,000
b.$90,000
c.$60,000
d.$30,000
e.$0

Question

Assume that the government proposes a negative income tax that calculates taxes owed by the following formula,
Taxes Owed = (1/3  Income) - $10,000.
Compute the tax that would be owed given each level of income. 
a.$120,000
b.$90,000
c.$60,000
d.$30,000
e.$0

Quizplus · Accepted Answer

The Answer of Assume that the government proposes a negative income tax that calculates taxes owed by the following formula,
Taxes Owed = (1/3  Income) - $10,000.
Compute the tax that would be owed given each level of income. 
a.$120,000
b.$90,000
c.$60,000
d.$30,000
e.$0

Assume That the Government Proposes a Negative Income Tax That