In the graph you turn in you will need to include tick marks and numerical labels, but for this part of the lab these details are not relevant. Part one of your homework is to write (in pen or printout) a description of whether each tax curve is "fair", and if not, why not. Be specific: discuss the incentives or disincentives to earning in each curve, and whether rich and poor taxpayers are treated appropriately. (For example, some consider the gas tax regressive, in that the rich pay a smaller percentage of their income for the privilege of driving.)
Part two of your homework is to write a program which asks the user for his income, then prints the associated tax according to the following table:
|If income is||then tax is|
|less than $10,000||5% of income|
|at least $10,000, but less than $15,000||$500 + 6% of amt over $10,000|
|at least $15,000, but less than $20,000||$800 + 7% of amt over $15,000|
|at least $20,000||$1,150 + 8% of amt over $20,000|
Your program should be formally documented as described previously. You will turn in a printout of the program.
Part three of your homework is to run your program several times to fill in this table:
Then draw a well-labeled graph of income vs. tax including these data points. (You may want to add more data points if you have doubts about the shape of your curve.)
The last part of your assignment is to evaluate the fairness of your tax curve based on the shape you ended up with.
To recap, your assignment is to: