Congress would like to increase tax revenues by 11 percent

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Congress would like to increase tax revenues by 11 percent. Assume that the average taxpayer in the United States earns $109,000 and pays an average tax rate of 19 percent. If the income effect is in effect for all taxpayers, what average tax rate will result in a 11 percent increase in tax revenues? This is an example of what type of forecasting?

Reference no: EM13480629

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