If the first $20,000 of your income (or any portion thereof) is taxed at 10%, and the next $30,000 of your income (or any portion thereof) is taxed at 20%, and any income you make above that is taxed at a 30% rate, then a person who earned an income of $500,000 will pay the following amount in taxes: Group of answer choices --$150,000 --$156,000 --$143,000 --$100,000 --The correct answer is different from the options provided.

If the first $20,000 of your income (or any portion thereof) is taxed at 10%, and the next $30,000 of your income (or any portion thereof) is taxed at 20%, and any income you make above that is taxed at a 30% rate, then a person who earned an income of $500,000 will pay the following amount in taxes: Group of answer choices --$150,000 --$156,000 --$143,000 --$100,000 --The correct answer is different from the options provided.

MACROECONOMICS FOR TODAY

10th Edition

ISBN:9781337613057

Author:Tucker

Publisher:Tucker

Chapter12: The Public Sector

Section: Chapter Questions

Problem 8SQ

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