Historical Analysis

In: Historical Events

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Enter your career choice and income from the career generator tool found on page 5 of 5 in section

02.03 Tax Debate Worksheet

Career Name: _______________ Yearly Income: _______________

Student Name: ________________

Multiply your income by 15% to find your net income under the flat tax system.
Some Americans are supporting switching to a flat income tax rate of 15%. How much would you pay under this plan? (Your Income) X 15% (or .15) = _______________
Determine what the appropriate tax level is based on your ‘gross’ income and calculate by the appropriate percentage to find your ‘net’ income.
Calculator Tip: To multiply by a percentage, you can use your calculator in two ways. You can use the percent symbol key or you can enter the percentage as a decimal. To change a percentage to a decimal, move the decimal point two digit places to the left. Example: 20% becomes 0.20

Progressive Tax Plan
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Proposed Progressive Plan

Calculate your tax. For example,
$10,000x10%=$1,000 in tax.

row that matches your yearly income.
10% on income up to $25,000
20% on income between $25,000 and $34,000
25% on income between $34,000 and $44,000
30% on income between $44,000 and $80,000
40% on taxable income over $80,000

Mark ‘Xs’ on the appropriate lines.

Determine what the appropriate tax level is based on your ‘gross’ income and calculate by the appropriate percentage to find your ‘net’ income.

Regressive Tax Plan
Mark “X” next to the row that matches your yearly income.

Proposed Regressive Plan

Calculate your tax. For example,
$10,000x40%=$4,000 in tax.

40% on income up to $25,000
30% on income between $25,000 and $34,000
25% on income between $34,000 and $44,000
20% on income between $44,000 and $80,000
10% on taxable income over $80,000

Mark ‘Xs’ on…...

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