Minnesota has added a new tax of 9.85% for single residents making over $150,000 and married couples

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Minnesota has added a new tax of 9.85% for single residents making over $150,000 and married couples making over $250,000. Maryland and California passed similar taxes last year while tax cuts remain popular in some other states.

Explain the effects of the tax hike on labor income. Will workers or employers pay most of the tax increase? How will the deadweight loss change?

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Foundations Of Microeconomics

ISBN: 9780133477108

7th Edition

Authors: Robin Bade, Michael Parkin

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Question Posted: Feb 15, 2024 08:00 AM

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Minnesota has added a new tax of 9.85% for single residents making over $150,000 and married couples

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A tax on labor income will decrease the quantity of labor emplo...View the full answer

Foundations Of Microeconomics

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