cost each worker 8 percent of income. For each worker, calculate the cost of the insurance as a share of total income. Worker 1 Worker 2 Worker 3 E = Employment income $24,500 $48,000 $68,000 I = Investment income $500 $2,000 $7,000 P = Premium cost of insurance $4,000 $4,000 $4,000 Premium as a percentage of income = P/(E + 1) W = Wage tax cost of insurance = 0.085 X E Wage tax cost as a percentage of income = W/(E + 1) T = Income tax cost of insurance = 0.080 x (E + 1) Income tax cost as a percentage of income = T/(E + 1) 1.4 Which of the plans in exercise 1.3 would impose the larger burden on those with incomes under $25,000: a mandatory insurance plan financed via premiums, via the income tax, or via a payroll tax? 1.5 Which of the plans in exercise 1.3 would be fairest? 1.6. Which of the preceding questions can you answer using positive economics? For which of the preceding