Question
1. Bonnie receives salary income of $32,000, unemployment compensation of $4,400, and interest income of $1,200 and a gift of $7,000 in cash from her
1. Bonnie receives salary income of $32,000, unemployment compensation of $4,400, and interest income of $1,200 and a gift of $7,000 in cash from her aunt. How much gross income does Bonnie have? In your response, please make sure to take all of the facts above into consideration. You can refer back to the text, lecture videos, and the IRS website. Please make sure to support whatever conclusion you decide to present. 2. This next question will be more opinion-based. The United States operates utilizes a progressive tax system. What exactly does this mean? Do you believe it is the best system for the United States or this is there a better answer (one additional choice could be a flat tax for example)? Please try to explain your thoughts as thoroughly as possible.
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