What average tax rate will result in increase tax revenues

Assignment Help Financial Accounting

Reference no: EM131191461

Congress would like to increase tax revenues by 8 percent. Assume that the average taxpayer in the United States earns $43,000 and pays an average tax rate of 30 percent.

a. If the income effect is in effect for all taxpayers, what average tax rate will result in a 8 percent increase in tax revenues? (Round your answer to 2 decimal places.)

Reference no: EM131191461

Questions Cloud

Discuss the effect on the assessable income of the parent : Discuss whether or not the three payments are income from personal exertion.- Discuss the effect on the assessable income of the parent.

Would all employees benefit from these policies : Suggest two policies that you think employers could institute that would best promote work-life balance among their employees. Be sure to explain why you think these policies would help. Would all employees benefit from these policies or just cert..

Define the term social engineering : In the context of the above scenario, define the term 'social engineering'. In the above scenario, identify FOUR (4) instances where the staff member was subject to a social engineering technique. Identify the technique and say why it was used

Determine the tension t required to hold the rectangular : Determine the tension T required to hold the rectangular solid in the position shown. The 125-kg rectangular solid is homogeneous. Friction at D is negligible.

What average tax rate will result in increase tax revenues : If the income effect is in effect for all taxpayers, what average tax rate will result in a 8 percent increase in tax revenues?

Determine the internal loads in the handle on a plane : A tennis player at the net holds the racquet firmly in a horizontal position. The ball strikes the racquet head below its center, exerting a normal force of 200 N. Determine the internal loads in the handle on a plane through the center of the gri..

How does change impact motivation of employees : Discuss how employers will explain about the training that will be offered to all employees and how employee job skills will change with the implementation.

Describe the importance of profiling a market area : Health care markets in the United States are rapidily changing. The effectiveness of marketing techniques, competition, and the demands for health care services vary by geographic region for a variety of reasons.

Difference between a traditional analysis : Discuss the difference between a traditional analysis and a focused competitor analysis. And when its appropriate to use either one?

User Account

All Pages