1. Decide on the income values that will make up your tax brackets (Column 1). Then, decide what marginal tax rate will be applied to income in that range (Column 2). 2. Use your new Income Tax Structure from Question 1 to show how much citizens with the following income levels would pay in personal income tax: a. Income of $20,000 b. Income of $75,000 c. Income of $200,000 Create a piecewise rule and graph (Desmos interactive) that shows the effective tax rate as a function of total income. In other words, the x-values for your function will be income and the y-values will be effective tax rate (total income tax paid/total income). Write your rules in Columns 3 and 4 of the provided graphic organizer below. 4. In the context of personal income taxes... a. What does it mean to you that a system is 'fair'? b. Why do you think your Income Tax Structure is more fair than the current reality? Taxes are usually a heavily debated topic in the financial, political, and personal arenas. Disagreements often stem from ideas about fairness, government use of tax dollars, and (sometimes) misunderstandings of the current reality of taxes in the United States. For this assignment, you will get to be President for a day. Your task is to design a 'fair' income tax structure for the United States. *For this assessment, show your work on paper and insert photos, or show your work by typing into this document. 1. Decide on the income values that will make up your tax brackets (Column 1). Then, decide what marginal tax rate will be applied to income in that range (Column 2). 2. Use your new Income Tax Structure from Question 1 to show how much citizens with the following income levels would pay in personal income tax: a. Income of $20,000 b. Income of $75,000 c. Income of $200,000 3. Create a piecewise rule and graph (Desmos interactive) that shows the effective tax rate as a function of total income. In other words, the x-values for your function will be income and the y-values will be effective tax rate (total income tax paid/total income). Write your rules in Columns 3 and 4 of the provided graphic organizer below. 4. In the context of personal income taxes, a. What does it mean to you that a system is 'fair'? b. Why do you think your Income Tax Structure is more fair than the current reality