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Congress would like to increase tax revenues by 9.5 percent. Assume that the average taxpayer in the United States earns $60,000 and pays an average
Congress would like to increase tax revenues by 9.5 percent. Assume that the average taxpayer in the United States earns $60,000 and pays an average tax rate of 20 percent If the income effect is in effect for all taxpayers, what average tax rate will result in a 9.5 percent increase in tax revenues? Note: Round your answer to 2 decimal places
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