The figure below show a simplified version of the current (2012) Canadian federal income- tax system.The marginal income- tax rates for the four ranges of income are 15.5%,22%,26%,and 29%,respectively.
FIGURE 18- 2
-Refer to Figure 18- 2.This income- tax system can be characterized as
Definitions:
Financial Incentives
Monetary rewards or penalties intended to motivate particular behaviors or outcomes in individuals or organizations.
Basic Needs
Essential requirements for human survival, such as food, water, shelter, education, and healthcare.
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