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Income tax in the United States

Econ 2.03

Subject: 
Economics
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Tax incidence
Taxation
Tax rate
Flat tax
Regressive tax
Progressive tax
Tax
Income tax in the United States
Income tax
Consumption tax
Proportional tax

Career Name: Computer Programmer Yearly Income: $70,000 Flat Tax Some Americans are supporting switching to a flat income tax rate of 15%. How much would you pay under this plan? (70,000) X 15% (or .15) = $10,500 Calculator Tip: To multiply by a percentage, you can use your calculator in two ways. You can use the percent symbol key or you can enter the percentage as a decimal. To change a percentage to a decimal, move the decimal point two digit places to the left. Example: 20% becomes 0.20 Regressive Tax Plan Mark ?X? next to the row that matches your yearly income. Proposed Regressive Plan Calculate your tax. 40% on income up to $25,000 30% on income between $25,000 and $34,000 25% on income between $34,000 and $44,000 X
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