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Here is a hypothetical income tax schedule, expressed in nominal terms, for 2017. Family income Taxes due (% of income) 70,000 35 The government wants
Here is a hypothetical income tax schedule, expressed in nominal terms, for 2017. Family income Taxes due (% of income) 70,000 35 The government wants to ensure that families with a given real income are not pushed up into higher tax brackets by inflation. The CPI is 164 in 2017 and 188.6 in 2019. How should the income tax schedule be adjusted for 2019 to meet the government's objective? Here is a hypothetical income tax schedule, expressed in nominal terms, for 2017. Family income Taxes due (% of income) 70,000 35 The government wants to ensure that families with a given real income are not pushed up into higher tax brackets by inflation. The CPI is 164 in 2017 and 188.6 in 2019. How should the income tax schedule be adjusted for 2019 to meet the government's objective
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