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What average tax rate will result increase

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Question - Congress would like to increase tax revenues by 20 percent.

Assume that the average taxpayer in the United States earns $55,000 and pays an average tax rate of 30 percent.

If the income effect is in effect for all taxpayers, what average tax rate will result in a 20 percent increase in tax revenues?

This is an example of what type of forecasting?

Reference no: EM132224136

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