Scenario 20-2 Suppose the Government Implemented a Negative Income Tax and Used

question 104

Multiple Choice

Scenario 20-2
Suppose the government implemented a negative income tax and used the following formula to compute a family's tax liability:
Taxes owed = (1/4 of income) - $20,000
-Refer to Scenario 20-2.A family earning $60,000 before taxes would have how much after-tax income?

• A) -$5,000
• B) $25,000
• C) $55,000
• D) $65,000

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