Its multiple parts to the question. i posted pictures of the full question. thnx

Introduction Imagine the country is made up of 100 households. The federal government needs to collect $1,200,000 in income taxes to be able to function. The population consists of six (6) groups: o Group A: 19 households that earn $15,000 each o Group B: 21 households that earn $31,000 each o Group C: 19 households that earn $51,000 each o Group D: 20 households that earn $81,000 each o Group E: 16 households that earn $132,000 each o Group F: 5 households that earn $299,000 each This scenario is roughly proportional to the actual United States population and tax needs. We are going to determine new income tax rates. Flat Tax The first proposal we'll consider is a flat tax -- one where every income group is taxed at the same percentage rate. What is the total income of our six groups (all 100 households)? $ % (round to one What flat tax rate would be necessary in order to collect $1,200,000? decimal place) Modified Flat Tax The second proposal we'll consider is a modified flat-tax plan, where everyone only pays taxes on any income over $20,000. So everyone in group A will pay no taxes. Everyone in group B will pay taxes on $11,000. Everyone in group C will only pay taxes on $31,000, etc. What is the total taxable income for the whole population? What flat tax rate would be necessary in order to collect $1,200,000 in this modified system? % (round to one decimal place) Summary of Flat Tax Complete the following table: Flat Tax Plan Income Tax Income per Household Group Modified Flat Tax Plan Income Tax Income After per Household Taxes Income After Taxes per Household S $ $ $ A $15,000 $ S $ B $31,000 $ $ $ $51,000 $ $ $ $ D $81,000 $ $ $ $ E $132,000 $ $ $ S F $299,000 Progressive Tax The third proposal we'll consider is a progressive tax, where lower income groups are taxed at a percent rate, and higher income groups are taxed at a higher percent rate. For simplicity, we're assume that a household is taxed at the same rate on all of their income. Determine the tax rate necessary for group F to meet the country's financial need ($1,200,000). Perform your calculations for total tax collected using the given rates for groups A - E. Then de needed for Progressive Tax The third proposal we'll consider is a progressive tax, where lower income groups are taxed at a lower percent rate, and higher income groups are taxed at a higher percent rate. For simplicity, we're going to assume that a household is taxed at the same rate on all of their income. Determine the tax rate necessary for group F to meet the country's financial need ($1,200,000). HINT- Perform your calculations for total tax collected using the given rates for groups A - E. Then determine how much more tax you NEED to collect. Use that figure to determine the tax rate needed for group F. Total Tax Income Income Tax Income After Collected for Group per Tax Rate (%) per Taxes per All Household Household Household Households $ $ A $15,000 4.2% $ $ $ B $31,000 9.2% $ $ $ C $51,000 12.4% $ $ $ D $81,000 14.8% $ $ $ E $132,000 17% $ S F $299,000 % Does your total tax collected add up to $1,200,000? Effective Rate Discretionary income is the income people have left over after paying for necessities like rent, food, transportation, etc. The cost of basic expenses does increase with income, since housing and car costs Effective Rate Discretionary income is the income people have left over after paying for necessities like rent, f transportation, etc. The cost of basic expenses does increase with income, since housing and ca are higher, however usually not proportionally. For each income group, an estimate of their esse expenses has been given. Compute the effective tax rate for each plan, relative to discretionary (divide the tax paid by the discretionary income). Effective Income Discretionary Effective Effective Rate Group per Income Rate (Flat Rate (Modified Household (Estimated) Tax) Flat) (Progressive) A $15,000 $750 % % B $31,000 $3,100 % % de $51,000 $7,650 % % % D $81,000 $16,200 % E $132,000 $39,600 F $299,000 $104,650 % (Round to one decimal place for all effective rates.) Conclusion Which plan seems the most fair to you? Which plan seems the least fair to you? Why? Make sure to answem in complete sentences with full explanation. A quality answer should have a few sentences of explanation with mathematical reasoning, Introduction Imagine the country is made up of 100 households. The federal government needs to collect $1,200,000 in income taxes to be able to function. The population consists of six (6) groups: o Group A: 19 households that earn $15,000 each o Group B: 21 households that earn $31,000 each o Group C: 19 households that earn $51,000 each o Group D: 20 households that earn $81,000 each o Group E: 16 households that earn $132,000 each o Group F: 5 households that earn $299,000 each This scenario is roughly proportional to the actual United States population and tax needs. We are going to determine new income tax rates. Flat Tax The first proposal we'll consider is a flat tax -- one where every income group is taxed at the same percentage rate. What is the total income of our six groups (all 100 households)? $ % (round to one What flat tax rate would be necessary in order to collect $1,200,000? decimal place) Modified Flat Tax The second proposal we'll consider is a modified flat-tax plan, where everyone only pays taxes on any income over $20,000. So everyone in group A will pay no taxes. Everyone in group B will pay taxes on $11,000. Everyone in group C will only pay taxes on $31,000, etc. What is the total taxable income for the whole population? What flat tax rate would be necessary in order to collect $1,200,000 in this modified system? % (round to one decimal place) Summary of Flat Tax Complete the following table: Flat Tax Plan Income Tax Income per Household Group Modified Flat Tax Plan Income Tax Income After per Household Taxes Income After Taxes per Household S $ $ $ A $15,000 $ S $ B $31,000 $ $ $ $51,000 $ $ $ $ D $81,000 $ $ $ $ E $132,000 $ $ $ S F $299,000 Progressive Tax The third proposal we'll consider is a progressive tax, where lower income groups are taxed at a percent rate, and higher income groups are taxed at a higher percent rate. For simplicity, we're assume that a household is taxed at the same rate on all of their income. Determine the tax rate necessary for group F to meet the country's financial need ($1,200,000). Perform your calculations for total tax collected using the given rates for groups A - E. Then de needed for Progressive Tax The third proposal we'll consider is a progressive tax, where lower income groups are taxed at a lower percent rate, and higher income groups are taxed at a higher percent rate. For simplicity, we're going to assume that a household is taxed at the same rate on all of their income. Determine the tax rate necessary for group F to meet the country's financial need ($1,200,000). HINT- Perform your calculations for total tax collected using the given rates for groups A - E. Then determine how much more tax you NEED to collect. Use that figure to determine the tax rate needed for group F. Total Tax Income Income Tax Income After Collected for Group per Tax Rate (%) per Taxes per All Household Household Household Households $ $ A $15,000 4.2% $ $ $ B $31,000 9.2% $ $ $ C $51,000 12.4% $ $ $ D $81,000 14.8% $ $ $ E $132,000 17% $ S F $299,000 % Does your total tax collected add up to $1,200,000? Effective Rate Discretionary income is the income people have left over after paying for necessities like rent, food, transportation, etc. The cost of basic expenses does increase with income, since housing and car costs Effective Rate Discretionary income is the income people have left over after paying for necessities like rent, f transportation, etc. The cost of basic expenses does increase with income, since housing and ca are higher, however usually not proportionally. For each income group, an estimate of their esse expenses has been given. Compute the effective tax rate for each plan, relative to discretionary (divide the tax paid by the discretionary income). Effective Income Discretionary Effective Effective Rate Group per Income Rate (Flat Rate (Modified Household (Estimated) Tax) Flat) (Progressive) A $15,000 $750 % % B $31,000 $3,100 % % de $51,000 $7,650 % % % D $81,000 $16,200 % E $132,000 $39,600 F $299,000 $104,650 % (Round to one decimal place for all effective rates.) Conclusion Which plan seems the most fair to you? Which plan seems the least fair to you? Why? Make sure to answem in complete sentences with full explanation. A quality answer should have a few sentences of explanation with mathematical reasoning