Tax: would the government have a budget surplus or deficit under this new system with respect to these two taxpayers (assume all other factors remain constant)?is this system fair?
Tax Every year during the tax filing season, people complain about how complex the tax system has become. Assume that Congress is considering passing legislation to do away with the current tax system and impose a 18% flat tax on all income. This means there is no longer tax free provisions such as the gain … Read more