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Ms . Benoit is a self - employed architect who earns $ 3 8 3 , 0 0 0 annual taxable income. For the past
Ms Benoit is a selfemployed architect who earns $ annual taxable income. For the past several years, her tax rate on this income has been percent. Because of recent tax law changes, Ms Benoits tax rate for next year will decrease to percent.
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Based on a static forecast, how much less revenue will the government collect from Ms Benoit next year?
If Ms Benoit responds to the rate decrease by working more hours and earning $ taxable income, how much less tax revenue will the government collect from Ms Benoit next year?
If Ms Benoit responds to the rate decrease by working fewer hours and earning only $ taxable income, how much less tax revenue will the government collect from Ms Benoit next year?
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