Discussions about revisions of federal income tax system

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Reference no: EM132044719

When Marginal Tax Rates were Really Extreme Located on pages 457 – 461 in Fiscal Administration (10th ed.) by Mikesell, Case 9 – 1 discusses the role of marginal tax rates in tax policy. Read the entire case study and answer the following questions (Consider These Questions): 1. Use the case to explain why tax analysts worry about marginal rates, not average (effective) rates, in looking for incentive effects of taxes. 2. Explain the relevance of this case for discussions about revisions of the federal income tax system. How might this case apply to the recent tax reform bill passed by Congress? 3. Explain how some changes in the tax system would have made Lockridge’s tax problem somewhat less now than in the 1940s. 4. In your view, was Lockridge being badly treated by the income tax system? Explain your view.

Reference no: EM132044719

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