Answer in step by step with explanation.Don't use Ai and chatgpt. Suppose that Manuel, an economist from a collegein Pennsylvania, and Poornima, another economistfrom a graduate program in the Northeast, are bothguests on a popular science podcast. The host of thepodcast is facilitating their debate over governmentintervention. The following dialogue represents aportion of the transcript of their discussion:Poornima: The usefulness of governmentintervention in the economy is a long-standing issuethat economists continue to debate.Manuel: I feel that government involvement in theeconomy should be reduced because governmentprograms cause more harm than good.Poornima: While I do agree that governmentprograms can be inefficient, I really think they arenecessary to help the less fortunate.

ReferencesNorthouse, P. G. (2018). Introduction to Leadership: Concepts and Practice (5th ed.). Sage…

Answered: Suppose that Manuel, an economist from…

Microeconomics: Principles & Policy

14th Edition

ISBN:9781337794992

Author:William J. Baumol, Alan S. Blinder, John L. Solow

Publisher:William J. Baumol, Alan S. Blinder, John L. Solow

Chapter17: Taxation And Resource Allocation

Section: Chapter Questions

Problem 2DQ

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In 1989, Senator Bob Packwood asked Congress’s Joint Committee on Taxation how much extra revenue the government would raise if it just started taxing 100% of all income over $200,000 per year. The Joint Committee crunched some numbers and reported an answer: $204 billion per year. a. What is wrong with this answer? In 1989, very few people made over $200,000 a year, so the estimate of the tax revenue is far too high. Increasing government spending by $204 billion each year would have generated economic growth, and subsequently even higher amounts of tax revenues. The Joint Committee on Taxation did not have the tools needed to make such an estimate accurately. No one would have an incentive to work once they had earned $200,000, so much of the taxable income would disappear.
8. Agreement and disagreement among economists Suppose that Raphael, an economist from a business administration program in Georgia, and Susan, another economist from a nonprofit institution in the Midwest, are both guests on a popular science podcast. The host of the podcast is facilitating their debate over government intervention. The following dialogue represents a portion of the transcript of their discussion: Susan: The usefulness of government intervention in the economy is a long-standing issue that economists continue to debate. Raphael: I feel that government involvement in the economy should be reduced because government programs cause more harm than good. Susan: While I do agree that government programs can be inefficient, I really think they are necessary to help the less fortunate. The disagreement between these economists is most likely due to differences in values Despite their differences, with which proposition are two economists chosen at random most likely to agree?…
READ CAREFULLY You are to pick two out of the seven political philosophers we have discussed in class, and explain regarding one of them why you most favor how this philosopher has laid out his way of seeing the world, and how he explained how best to organize society and government. Then regarding the second political philosopher, explain why you most disfavor how this philosopher has laid out his way of seeing the world, and how he explained how best to organize society and government. Consider how they both viewed human nature and the equal/unequal nature of humans, and how that helps explain their world view. The length of your response for each philosopher should be 1-2 pages, double spaced with one inch margin all around. If you quote someone, be sure to reference the quote, and everything else should be written in your own words. Here is the list of political philosophers we have discussed in class: Plato, Aristotle, Machiavelli, Hobbes, Locke, Marx and Nietzsche I
this question has not been graded i am trying to get help with it. it is a macroeconmics question
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The negative income tax has been proposed as a means The negative income tax has been proposed as a means of increasing both the efficiency and the equity of Canada’s tax system (see Applying Economic Concepts 18-1 on page 465). The most basic NIT can be described by two variables: the guaranteed annual income and the marginal tax rate. Suppose the guaranteed annual income is $8000 and the marginal tax rate on every dollar earned is 35 percent. With this NIT, after-tax income is given by After-tax income = 8000 + (1 – 0.35) X (Earned income) a. On a scale diagram with after-tax income on the vertical axis and earned income on the horizontal axis, draw the NIT relationship between earned income and after-tax income. b. What is the level of income at which taxes paid on earned income exactly equal the guaranteed annual income? c. The average tax rate is equal to total net taxes paid divided by earned income. Provide an algebraic expression for the average tax…
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Even though many school zones don’t have muchtraffic and aren’t regularly monitored by the policefor speed, most drivers are very careful to driveat or below speed limits when near schools. Whymight this be the case even in the absence of stronggovernment intervention?
What are the components of a public policy model? TD What are the components of a public policy model?
following table shows the marginal tax rate under tax systems A and B. Tax System A Marginal Tax Rate Tax System B Marginal Tax Rate Income Range 0- $20,000 $20,001 - $40,000 $40,001 - $80,000 $80,001 - $200,000 > $200,000 0% 20% 28% 35% 35% 5% 15% 30% 50% 80% der Tax System A, the average tax rate for an income level of $100,000 is A 222% OB. 28% OC. 20.75%. OD. 35%
Please correct answer and don't use hend raiting
The Federal Budget- Ask FRED The accompanying graph contains data on "U.S Individual Income Tax: Tax Rates for Regular Tax: Highest Bracket'" reproduced in the accompanying graph to analyze this aspect of the U.S. tax system_ over the past 100 vears. FREDU.S Individual Income Tax: Tax Rates for Regular Tax: Highest Bracket 100 90 80 70 60 50 a 40 30 20 10 0 1920 1940 1960 1980 2000 Source: U.S. Department of the Treasury. Internal Revenue Service a. When the income tax was first introduced, what was the rate on the highest bracket?

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