Question

Congress would like to increase tax revenues by 20 percent. style=”color:rgb(0,0,0);”>Assume that the average taxpayer in the United States earns $55,000 and pays an average tax rate of 30 percent. If the income effect is in effect for all taxpayers, what average tax rate will result in a 20 percent increase in tax revenues? This is an example of what type of forecasting?

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