What average tax rate will result

Reference no: EM13320364

Congress would like to increase tax revenues by 18 percent. Assume that the average taxpayer in the United States earns $67,000 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 18 percent increase in tax revenues? This is an example of what type of forecasting?

Reference no: EM13320364

Questions Cloud

Calculate volume of gasoline in the tanker at time of cash : Hypothetically, upon leaving the filling station, tire pressure for each tire on the 18-wheeler was measured as 105 psi (gauge), and the wheel contact area with the ground was a 6.0 in by 7.0 in rectangle.

Estimate the energy stored in the capacitor : A parallel-plate air capacitor is made from two plates 0.205m square, spaced 0.830cm apart. It is connected to a 120 V battery. What is the energy stored in the capacitor

Determine the normal stress in the rails at a temperature : Determine the normal stress in the rails when the temperature reaches 48oC assuming that the rails (a) are welded to form a continuous track (b) are 10m long with 3 mm gaps between them.

Prepare a cost of goods manufactured statement : Conversion cost was 140,000 and was four times the prime cost. Direct materials used in production equaled 5,000

What average tax rate will result : What average tax rate will result in a 18 percent increase in tax revenues? This is an example of what type of forecasting?

Calculate the total angular momentum of the system : A horizontal circular platform rotates counterclockwise about its axis at the rate of 0.979 rad/s. Calculate the total angular momentum of the system

How the understanding of the business may provide value : Explain how the understanding of the business may provide value-added services that the auditor might be able to use in order to assist a privately held client.

Total expenses for the year : Retained Earnings had a beginning balance of $2,758,000 and an ending balance of $3,885,700. Total revenues for the year were 3,790,800.

Graph the original function and the scaled function : Graph the original function and the scaled function and also graph the signal

User Account

All Pages