The government announced that last year it spent $179 million in mandatory outlays and $416 million in discretionary outlays. It received $612 million in revenue. Last year, the government had a budget of s million Suppose that marginal income tax rates are as follows: Income level $0-$10,000 $10,000-$50,000 Greater than $50,000 Marginal tax rate 10% 20% 35% Also suppose that the taxes for Social Security and Medicare together are 7.65%, and that they are applied to income up to $100,000 If your income is $123.000, what is your total income tax bill and how much will you have paid in Social Security and Medicare taxes? Total income taxes Social Security and Medicare taxes: $