Extra Credit Individual Assignment: Due 7/28/2021 by 11:59PM in Turnitin AC 371 Summer 2021 This is an in-class exercise that provides students with an opportunity to critically evaluate and discuss the ethical implications of (1) tax policy discussed in class, and (2) issues common to professional practice To receive an assessment of "meets expectations" and earn extra credit points for this assignment, students must meet the following minimum requirements: 1. Each question in the assignment must be addressed with at least one paragraph in the student's own original writing. Be sure to use proper spelling, grammar, and punctuation Write your responses in complete sentences. Each response must exhibit thoughtful consideration of the ethical issues at stake. a. For instance, the student must identify the desired outcome for the taxpayer or group of taxpayers featured in the question and discuss how this outcome is potentially in conflict with the broader goals of the government and/or an ethical society. b. Alternatively, a student might contrast a known "right way" of handling the situation described in each question with issues of a more practical nature, such as a low perceived likelihood of being caught and/or undergoing an IRS audit II. Failure to meet the minimum requirements listed above will result in an assessment of "does not meet expectations." No extra credit will be given for assignments that fail to meet expectations. No partial credit will be awarded for this assignment. This assignment is worth a total of 5 extra credit points. Question 1: Recall the discussion of the progressive (tax rate increases as the base increases; ex, current US income tax system) vs. regressive (tax rate decreases as the base increases; ex. Social Security taxes) vs. proportional (tax rate stays the same regardless of base; ex. current US sales tax) tax rate structures that we covered in Chapter 1. Which type of tax structure is moral/ethical/"right" in your opinion? Try to think of the effects of the various tax rate structures on different types of taxpayers when justifying your