Jackson has the choice to invest in City of Mitchell bonds or Sundial, Inc. corporate bonds that pay 10% interest. Assume that the City of Mitchell bonds and the Sundial, Inc. bonds have similar risk. If Jackson is a single taxpayer with a projected taxable income of $75,000 what interest rate would the City of Mitchell have to pay in order to make Jackson indifferent between investing in the City of Mitchell and the Sundial Inc bonds for the 2020 tax year? (Hint: Use the tax tables to determine the taxpayers marginal tax rate on his projected taxable income of $75,000.)

		7.80%
		8.80%
		10.00%
		11.20%
		12.20%

Which of the following tax rate structures best describes the federal income tax?

		Progressive
		Proportional
		Regressive
		Ad Valorem

Which of the following tax systems best describes the general structure of the Medicare tax (including the Additional Medicare tax) paid by employees and self-employed individuals?

		Progressive
		Proportional
		Regressive
		Ad Valorem

A tax system in which the tax rate decreases with increases in the tax base is a(n):

		progressive tax system
		proportional tax system
		regressive tax system
		ad valorem tax system