Solved: Calculate the individuals share of income tax, Accounting Basics

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Calculate the individuals share of income tax

Problem:

There have been some discussions about the possibility of IRS applying only a flat tax rate in the future to every individual's income in order to calculate the individual's share of income tax. Share your opinion about this plan with class and explain why you do or do not like this plan.

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Accounting Basics: Calculate the individuals share of income tax

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