A flat tax plan with a standard deduction of $25,000 in income and a tax rate of 20% would require an individual earning $100,000 to pay $15,000 in income taxes
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
Assuming a fully loaned-up banking system and a deposit expansion multiplier of 2, a $10 million government expenditure financed by sales of securities to the banking system will cause the money supply to
A) remain unchanged. B) rise by $5 million. C) rise by $10 million. D) rise by $20 million.
The Founding Fathers (or Founders) of the United States were
(a) pragmatic reformers, eager to assault slavery whenever political realities permitted. (b) skittish abolitionists, cautiously promoting antislavery under particular circumstances. (c) anti-abolitionists, permitting slaves to be freed only when they would reap a great advantage from emancipation. (d) not concerned with slavery, because for centuries humankind failed to recognize it as a problem.