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jonnyjon jonnyjon
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5 years ago

Question 1.

The complexity of the U.S. federal income tax system results in significant annual deadweight losses. The opportunity cost of the hours taxpayers spend on record keeping and completing their tax returns amounts to billions of dollars.

a.

If the tax system was simplified, how would this benefit the economy?

b.

Why hasn't the tax system been simplified?


Question 2.

If you pay $14,000 in taxes on an income of $125,000, and $17,400 in taxes on an income of $144,000, what is your marginal tax rate? Show your work.

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InMicro

InMicro


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krobdancekrobdance
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jonnyjon Author
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5 years ago
Thanks
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