Consider the Following (Edited) Excerpt from a James Thurber New

question 9

Multiple Choice

Consider the following (edited) excerpt from a James Thurber New Yorker piece: "Suddenly someone began to run. It may be that he had simply remembered... an engagement to meet his wife, for which he was now frightfully late. Whatever it was, he ran east on Broad Street. Somebody else began to run, perhaps a newsboy in high spirits.... Another man broke into a trot.... A loud mumble gradually crystallized into the dread word 'dam.' 'The dam has broke!' The fear was put into words by a little old lady in an electric car, or by a traffic cop, or by a small boy: Nobody knows who.... Two thousand people were abruptly in full flight.…" This literary excerpt illustrates the phenomenon known as

• A) conversion.
• B) mass psychogenic panic.
• C) collective psychosis.
• D) contagion.

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Definitions:

Flat Tax

A tax system with a constant rate, where taxpayers pay the same percentage of their income regardless of the level of their income.

Marginal Tax Rate

The rate at which the last dollar of income is taxed, indicating the percentage of tax applied to your income for each tax bracket in which you qualify.

Average Tax Rate

The proportion of total income paid in taxes, calculated by dividing total tax amount by total income.

Circular 230

Regulations and guidelines issued by the US Department of the Treasury for tax professionals regarding practice before the IRS.