Steve Forbes ran for U.S. president in 1996 and 2000 on a platform proposing a 17% flat tax, that is, an income tax that would simply be 17% of each tax payer's taxable income. Suppose that Alice was single in the year 2016 with a taxable income of $32,000. If the 17% flat tax proposed by Mr. Forbes had been in effect in 2016, what would Alice's tax have been?
Steve Forbes ran for U.S. president in 1996 and 2000 on a platform proposing a 17% flat tax, that is, an income tax that would simply be 17% of each tax payer's taxable income. Suppose that Alice was single in the year 2016 with a taxable income of $32,000. If the 17% flat tax proposed by Mr. Forbes had been in effect in 2016, what would Alice's tax have been?
Chapter5: Gross Income: Exclusions
Section: Chapter Questions
Problem 51P
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Steve Forbes ran for U.S. president in 1996 and 2000 on a platform proposing a 17% flat tax, that is, an income tax that would simply be 17% of each tax payer's taxable income. Suppose that Alice was single in the year 2016 with a taxable income of $32,000. If the 17% flat tax proposed by Mr. Forbes had been in effect in 2016, what would Alice's tax have been?
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