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.

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter11: Fiscal Policy And The Federal Budget

Section11.1: The Federal Budget

Problem 2ST

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