society, which of the following is more likely to Because of our ageing when you
ID: 2540992 • Letter: S
Question
society, which of the following is more likely to Because of our ageing when you retire? a. Your employer's defined benefit pension plan. b Some modified version of the current Social Security System c. A Wall Street managed investment fund that has mana ROls of more than twenty percent for all of its customers' 401(K) inheyea d Nothing will be available for people to retire on; they will have to eat Pie i 5. For the different kinds of income: 2015 tax year, Uncle Samuel Taxpayer paid the following taxes on his Type of Income Dividends Municipal Interest 940,000 Salary Amount $1,000,000 1,000,000 Tax $150,000 350,000 Uncle Samuel's effective tax rate was: a. 15 percent. b. 35 percent. c. 25 percent. d. 17 percent. e. More than 50 percent because the US has the highest tax rates in the World.Explanation / Answer
4. Because of our aging society, Some modified version of the current social security system is more likely to be around when you retire.
The reason behind it is the Fast growing Aging society needs the goverment attention in future to have the all kind of security to them as they were enable to survive in that seniorio which ultimately leads to the some short of new and modified version of the Social Security System.
5. Uncle Samuel's Effective Tax Rate = [Total Tax Paid / Total Income Recevied] * 100
= [($ 150,000 + $ 350,000) / ($ 1,000,000 + $ 940,000 + $ 1,000,000)] * 100
= [$ 500,000 / $ 2,940,000] * 100
= 17 % (So, Option D is the Answer)
So, Uncle Samuel's Effective Tax Rate was 17 percent.
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