Congress would like to increase tax revenues by 12 percent

Reference no: EM13599962

Congress would like to increase tax revenues by 12 percent. Assume that the average taxpayer in the Unived States earns 112,500 and pays an average rate of 19%. If the income tax effect is in effect for all taxpayers, what average tax rate will result in a 12 percent increase in tax revenues?

Reference no: EM13599962

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