Progressive Tax Based on your yearly income above, calculate the amount of tax each income bracket would pay under a progressive tax plan. Each row up to the total income amount should be filled in. For an example of a completed chart, go to Page 2 of Lesson 3.06. Proposed Regressive Plan Calculate the tax for $95,000. For example, $10,000x40%=$4,000 in tax. Show your work!! Calculate the tax for $25,000. For example, $10,000x40%=$4,000 in tax. Show your work!! 10% on income up to $25,000 20% on income between $25,000 and $34,000 25% on income between $34,000 and $44,000 30% on income between $44,000 and $80,000 40% on taxable income over $80,000 TOTAL TAX PAID (sum of all rows):
Progressive Tax
Based on your yearly income above, calculate the amount of tax each income bracket would pay under a progressive tax plan. Each row up to the total income amount should be filled in. For an example of a completed chart, go to Page 2 of Lesson 3.06.
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Proposed Regressive Plan |
Calculate the tax for $95,000. For example, $10,000x40%=$4,000 in tax. Show your work!! |
Calculate the tax for $25,000. For example, $10,000x40%=$4,000 in tax. Show your work!! |
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10% on income up to $25,000 |
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20% on income between $25,000 and $34,000 |
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25% on income between $34,000 and $44,000 |
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30% on income between $44,000 and $80,000 |
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40% on taxable income over $80,000 |
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TOTAL TAX PAID (sum of all rows): |
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