Scenario 20-7 Suppose the Government Implemented a Negative Income Tax and Used

question 330

Multiple Choice

Scenario 20-7
Suppose the government implemented a negative income tax and used the following formula to compute a family's tax liability:
Taxes owed = (1/6 of income) - $24,000
-Refer to Scenario 20-7. This negative income tax would guarantee what minimum level of income to every family?

• A)$24,000
• B)$50,000
• C)$144,000
• D)$150,000

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