Refer to Instruction 3-1

question 19

Essay

Refer to Instruction 3-1.Eager,a tipped employee,reported to his employer that he had received $320 in tips during March.On the next payday,April 6,he was paid his regular salary of $400. a) The amount of OASDI taxes to wi thhold from Eager's pay is_______
b) The amount of HI taxes to withhold from Eager's pay is___________

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Definitions:

Antipoverty Programs

Government or organizational initiatives designed to reduce or eliminate poverty by providing assistance to the needy through services or financial aid.

Public Good

A good or service provided at no cost to every person in a society, delivered by either state institutions or a nonprofit private individual or organization.

Government Intervention

Actions taken by a government to affect the economy, which can include regulations, subsidies, tariffs, and taxes.

Excludable

A characteristic of a good whereby it is possible to prevent people from enjoying the good unless they have paid for it.