Assume that the government proposes a negative income tax that calculates the taxes owed as follows: taxes

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Assume that the government proposes a negative income tax that calculates the taxes owed as follows: taxes owed equal 30% of income less $12,000. A family that earns an income of $40,000 will

A. neither pays taxes nor receives an income subsidy.

B. receive an income subsidy of $3,600.

C. pay $3,600 in taxes.

D. pay $12,000 in taxes.

Related Book For answer-question

Mathematical Applications for the Management Life and Social Sciences

ISBN: 978-1305108042

11th edition

Authors: Ronald J. Harshbarger, James J. Reynolds

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Posted Date: Aug 31, 2020 05:15 AM

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Assume that the government proposes a negative income tax that calculates the taxes owed as follows: taxes

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30 of income400000312000 s... View the full answer

Mathematical Applications for the Management Life and Social Sciences

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