answer the following questions in detailed and clear terms

Get quality term paper help at Unemployedprofessor.net. Use our paper writing services to score better and meet your deadlines. It is simple and straightforward. Whatever paper you need—we will help you write it!


Order a Similar Paper Order a Different Paper

Assignment6

Answer the following questions in detailed and clear terms:

  1. Consider the table below. We can use these data to find out what percentage of federal taxes is paid from the “top down” by the top 40%, top 60%, or top 80% of income earners. Likewise, we can count from the “bottom up” by the bottom 40%, 60%, or 80% of income earners. Fill in the table and show workings for full credit

Share of Total Federal Tax Revenue

Share of Total Federal Tax Revenue

Everyone

100%

Everyone

100%

Bottom 20%

0.8%

Top 80%

Bottom 40%

4.9%

Top 60%

Bottom 60%

Top 40%

85.6%

Bottom 80%

Top 20%

68.7%

  1. Given these data, which of the following are true? EXPLAIN
    1. The bottom 60% of taxpayers pay less than 25% of federal taxes.
    2. The top 80% of taxpayers pay over 98% of federal taxes.
    3. The top 40% of taxpayers pay less than 60% of federal taxes.
  • In 2013, corporate income taxes were about 9.9% of total federal revenue. Use the graph below to help estimate what fraction of GDP represents corporate income taxes.

7.There are a lot of ways to slice up the U.S. budget. With this in mind, which of the following statements are true, based on the illustration below:

  • Most of the federal budget is spent on welfare and foreign aid.
  • The budget for the next year increased by 20%, what would be the allocation for Medicaid if the increase of 20 percent was applied uniformly and equally among all the sections stated.
  • About half of the federal budget goes toward Medicare, Medicaid, and Social Security combined.
  • More than half of the federal budget goes toward Medicare, Medicaid, Social Security, and interest on the debt combined.
  • The federal government spends about $1,830 on the military per person in the United States.
  • If 35% of unemployment insurance and welfare was spent on Welfare alone. What percentage of the US budget was spent on Welfare?

  • Modern Principles of Economics, 3rd Edition (New York: Worth Publishers, 2016), Tyler Cowen and Alex Tabarrock
  • Please show all work.
Writerbay.net

Our affordable academic writing services save you time, which is your most valuable asset. Share your time with your loved ones as our Unemployedprofessor.net experts deliver unique, and custom-written paper for you.

Get a 15% discount on your order using the following coupon code SAVE15


Order a Similar Paper Order a Different Paper