How much is raised if the tax rate is fifteen percent

Reference no: EM133614285

Problem: A hypothetical society has three income earners, and all three must pay income taxes. The taxable income of Ciara is $40,000, the taxable income of Isabella is $100,000, and the taxable income of Justin is $200,000. How much tax revenue is raised under a proportional income tax when the tax rate is 10 percent? How much is raised if the tax rate is 15 percent?

Reference no: EM133614285

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