need to figure out negative income tax policy

neet to make negative income tax policy and calculate with the information listed

Wing with Govore Hotion Net Describe your Negative Income Tax on the Your Turn assignment What the owner wentences pieds sets/10 13 13 11 11 18 10 10 11 Te Yes COMPUTER COLS SEE THE MOST POHANTAMPLE ON THE PHONE he 2 3 30 20 21 21 21 HOWNICURVE INFORMATION Y etcom 21 21 22 22 20 21 20 2 23 Ya NOW 21 Current 27 21 21 27 10 11 22 We Ally what the show much you with a w them with www what were 12 33 14 Biewe certime the other Think of those Writing with correct hand? Enter "Reduction in Earnings Gov't support Guarantee reduction 1 Tax Amount Net Incom No 13 + No 4 No 5 No 6 Yes 7 Yes & No 0 No 10 No 11 No 12 Yes 13 Yes 14 No 15 No 16 No 17 No 18. Yes 19 No 20 Na 21 No 22 No 23 Yes 24 No 25 Yes 26 No 27 No 28 No 29 No sentences points earned = completed sentences/10 13 1.3 13 13 13 18 18 18 1.8 18 1.8 19 1.9 20 2 20 2 21 2.1 21 2.1 21 21 22 22 22 22 25 2.5 25 2.5 26 26 25 26 27 27 27 27 27 2.7 27 2.7 30 3 31 3.1 32 32 32 32 32 32 34 3.3 34 34 36 3.6 38 3.8 10 No 31 No No 3.6 3.8 4 36 38 40 43 43 44 44 44 4.3 4.3 4.4 4.4 44 46 46 48 31 No 32 No 33 No 34 No 35 No 36 No 37 No 38. Yes 39 Yes 40 Yes 41 No 42 Yes 43 No 44 Yes 45 Yes 46 Yes 47 Yes 48 Yes 49 Yes So Yes 51 Yes 52 Yes 53 Yes 54 Yes 55 Yes 56 Yes 57 Yes 58 Yes 50 51 53 53 57 58 59 59 60 60 62 4.6 4.6 4.8 5 5.1 5.3 53 5.7 58 59 5.9 6 6 6.2 6:3 6.4 6.5 68 6.9 7 64 65 68 69 70 70 72 72 73 73 59 Yes GO Yes 7 7.2 72 61 Yes 62 Yes 03Yes 61 Yes 62 Yes 53 Yes 54 Yes 55 Yes 56 Yes -7 Yes 8 Yes 9 Yes Yes 1 Yes 72 73 73 79 79 80 81 82 85 99 107 7.2 7.3 7.3 7.9 7.9 8 8.1 8.2 8.5 9.9 10.7 Total of all points 3 Average 3239 46.27142857 323.8 4.625714286 G H K M N at Income Describe your Negative Income Tax on the YourTurn assignment What is the Government Support that is guaranteed to each individual? For every $1 earned, how much is the governemt support reduced by? At what income level (l.es, points earned) is the support zero? After this level of points, what is the tax rate? COMPLETE THE COLUMNS (SEE THE NOTES FOR AN EXAMPLE, OR THE PRACTICE PROBLEM) LORENZ CURVE INFORMATION The quintiles are shown in the next worksheet tab (see bottom of page and click on quintiles. 70 students completed the assignment I have sorted the results in ascending order by sentences completed, By sorting, I then was able to classify the "poorest" to the "richest" to make quintiles. NOTE: Correct Hand = Incorrect Hand = 39 31 Ask yourself: How fair is this? If i determine grades by this exercise, students endowed with their correct hand, for the most part, earned more points. This is represents how much luck plays a role in determining your economic standing. If you are born with "resources" (brains, brawn, wealth), you are more likely to succeed. For example, those born with "resources" have lower oc of going to college. These people can earn money on assets that they were given at birth; they just don't have to work hard. Bottomline: we can not underestimate the role that luck plays and overestimate hard work. Think of how much harder students would have to write" who did not get to write with correct hand. -. Design a negative income tax to address the inequality associated with this activity, but maintains incentives for hard work. Your policy must be somewhat fiscally responsible (look at the overall points earned and think of this as your budget, and try (just try) not to go over your budget by more than 10% of current points earned; the logic behind this is to prevent you from creating more points out of thin air (e.g., we cannot print more money to help those living in poverty). Explain below and enter your policy and new data on the spreadsheet provided. Wing with Govore Hotion Net Describe your Negative Income Tax on the Your Turn assignment What the owner wentences pieds sets/10 13 13 11 11 18 10 10 11 Te Yes COMPUTER COLS SEE THE MOST POHANTAMPLE ON THE PHONE he 2 3 30 20 21 21 21 HOWNICURVE INFORMATION Y etcom 21 21 22 22 20 21 20 2 23 Ya NOW 21 Current 27 21 21 27 10 11 22 We Ally what the show much you with a w them with www what were 12 33 14 Biewe certime the other Think of those Writing with correct hand? Enter "Reduction in Earnings Gov't support Guarantee reduction 1 Tax Amount Net Incom No 13 + No 4 No 5 No 6 Yes 7 Yes & No 0 No 10 No 11 No 12 Yes 13 Yes 14 No 15 No 16 No 17 No 18. Yes 19 No 20 Na 21 No 22 No 23 Yes 24 No 25 Yes 26 No 27 No 28 No 29 No sentences points earned = completed sentences/10 13 1.3 13 13 13 18 18 18 1.8 18 1.8 19 1.9 20 2 20 2 21 2.1 21 2.1 21 21 22 22 22 22 25 2.5 25 2.5 26 26 25 26 27 27 27 27 27 2.7 27 2.7 30 3 31 3.1 32 32 32 32 32 32 34 3.3 34 34 36 3.6 38 3.8 10 No 31 No No 3.6 3.8 4 36 38 40 43 43 44 44 44 4.3 4.3 4.4 4.4 44 46 46 48 31 No 32 No 33 No 34 No 35 No 36 No 37 No 38. Yes 39 Yes 40 Yes 41 No 42 Yes 43 No 44 Yes 45 Yes 46 Yes 47 Yes 48 Yes 49 Yes So Yes 51 Yes 52 Yes 53 Yes 54 Yes 55 Yes 56 Yes 57 Yes 58 Yes 50 51 53 53 57 58 59 59 60 60 62 4.6 4.6 4.8 5 5.1 5.3 53 5.7 58 59 5.9 6 6 6.2 6:3 6.4 6.5 68 6.9 7 64 65 68 69 70 70 72 72 73 73 59 Yes GO Yes 7 7.2 72 61 Yes 62 Yes 03Yes 61 Yes 62 Yes 53 Yes 54 Yes 55 Yes 56 Yes -7 Yes 8 Yes 9 Yes Yes 1 Yes 72 73 73 79 79 80 81 82 85 99 107 7.2 7.3 7.3 7.9 7.9 8 8.1 8.2 8.5 9.9 10.7 Total of all points 3 Average 3239 46.27142857 323.8 4.625714286 G H K M N at Income Describe your Negative Income Tax on the YourTurn assignment What is the Government Support that is guaranteed to each individual? For every $1 earned, how much is the governemt support reduced by? At what income level (l.es, points earned) is the support zero? After this level of points, what is the tax rate? COMPLETE THE COLUMNS (SEE THE NOTES FOR AN EXAMPLE, OR THE PRACTICE PROBLEM) LORENZ CURVE INFORMATION The quintiles are shown in the next worksheet tab (see bottom of page and click on quintiles. 70 students completed the assignment I have sorted the results in ascending order by sentences completed, By sorting, I then was able to classify the "poorest" to the "richest" to make quintiles. NOTE: Correct Hand = Incorrect Hand = 39 31 Ask yourself: How fair is this? If i determine grades by this exercise, students endowed with their correct hand, for the most part, earned more points. This is represents how much luck plays a role in determining your economic standing. If you are born with "resources" (brains, brawn, wealth), you are more likely to succeed. For example, those born with "resources" have lower oc of going to college. These people can earn money on assets that they were given at birth; they just don't have to work hard. Bottomline: we can not underestimate the role that luck plays and overestimate hard work. Think of how much harder students would have to write" who did not get to write with correct hand. -. Design a negative income tax to address the inequality associated with this activity, but maintains incentives for hard work. Your policy must be somewhat fiscally responsible (look at the overall points earned and think of this as your budget, and try (just try) not to go over your budget by more than 10% of current points earned; the logic behind this is to prevent you from creating more points out of thin air (e.g., we cannot print more money to help those living in poverty). Explain below and enter your policy and new data on the spreadsheet provided