My question is: A country used to have a tax rate of 20%. They raised it to 30%. In that same time frame, John went from making 1,000,000 a year to 1,500,000 a year. How much more does he pay in taxes now compared to then? Your thoughts:
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At 20% he paid .2 * 1000000 = $200,000. Now he pays 1500000 * .3 = $450,000. So he pays an extra 450000 - 200000 = $250000. The final answer: 250000.
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