5 By the numbers . For an average four-person household in the United States, the 2010 combined...
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5 By the numbers . For an average four-person household in the United States, the 2010 combined standard deduction and personal exemptions came to $26,000. Assume that there are no progressive rates, just a fl at tax of 20 percent of income. (This tax is similar to the fl at tax proposal described in the chapter.) To show the progressivity, create a table that shows the tax liability in dollars and as a percentage of income for gross incomes of:
$25,000 $50,000 $75,000 $100,000 $150,000 $200,000 $400,000 $1,000,000 Graph your results.
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