national debt
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The total amount owed by a government.
What is the US national debt
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$60,000 per person
What type of tax system are the following-
1. Medicare tax rate is 1.45%
, 2. Social security tax rate is 6.2% but only the first $132,900 is taxable
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1. proportional tax
2. regressive tax, because after $132,900 the tax rate is zero
Why can the US government borrow money very inexpensively?
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Because there is almost no chance of the govn defaulting (not paying
back)
How to calculate income tax rate?
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(tax paid)/(income)
Federal government expenditures
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The total amount owed by a government.
What is the US national debt
Give this one a try later!
$60,000 per person
What type of tax system are the following-
1. Medicare tax rate is 1.45%
, 2. Social security tax rate is 6.2% but only the first $132,900 is taxable
Give this one a try later!
1. proportional tax
2. regressive tax, because after $132,900 the tax rate is zero
Why can the US government borrow money very inexpensively?
Give this one a try later!
Because there is almost no chance of the govn defaulting (not paying
back)
How to calculate income tax rate?
Give this one a try later!
(tax paid)/(income)
Federal government expenditures
Give this one a try later!
