Question

This assignment will give you more experience on the use of:

1. integers (int)

2. floats (float)

3. conditionals

4. iteration

The goal of this project is to make a fictitious comparison of the federal income. You will ask the user to input

their taxable income. Use the income brackets given below to calculate the new and old income tax. For the

sake of simplicity of the project we will only consider individuals and not married users. We will also ignore any

tax deductions while calculating income tax—they can significantly alter the tax, but add too much complexity for

our programming project.

New income tax brackets (2018 and newer)

Rate Income range

10% Up to $9,525

12% $9,526 to $38,700

22% $38,701 to $82,500

24% $82,501 to $157,500

32% $157,501 to $200,000

35% $200,001 to $500,000

37% over $500,000

Old income tax brackets (2017 and older)

Rate Income range

10% Up to $9,325

15% $9,326 to $37,950

25% $37,951 to $91,900

28% $91,901 to $191,650

33% $191,651 to $416,700

35% $416,701 to $418,400

39.6% over $418,401

Assignment Background

Being in the 25% tax bracket doesn’t mean you pay 25% on everything you make. The progressive tax

system means that people with higher taxable incomes are subject to higher tax rates, and people with

lower taxable incomes are subject to lower tax rates.

For example, let’s say you’re a filer with $32,000 in taxable income. That puts you in the 15% tax

bracket in 2017. But do you pay 15% on all $32,000? No. Actually, you pay only 10% on the first

$9,325; you pay 15% on the rest. (Look at the tax brackets above to see the breakout.)

If you had $50,000 of taxable income, you’d pay 10% on that first $9,325 and 15% on the chunk of

income between $9,326 and $37,950. And then you’d pay 25% on the rest, because some of your

$50,000 of taxable income falls into the 25% tax bracket. The total bill would be $8,238.75 — about

16% of your taxable income, even though you’re in the 25% bracket.

Project Description

Your program must meet the following specifications:

1. At program start, prompt the user for their income

2. Repeatedly prompt the user for new income until a negative income is entered.

3. Calculate the income tax using the 2017 and 2018 tax bracket tables above.

4. For each income entered:

a. Calculate the 2017 income tax and store it in a variable.

b. Next calculate the 2018 income tax and store it in a variable

c. Print

i. The income

ii. The 2017 tax

iii. The 2018 tax

iv. The difference between the 2018 and 2017 tax rounded to cents.

v. The difference between the 2018 and 2017 tax as a percentage of the 2017 tax

rounded to cents

Assignment Notes

1. To clarify the project specifications, sample output is appended to the end of this document.

2. Use a while loop with a Boolean that keeps looping as long as the income is greater than or

equal to zero. Prompt for income before the loop and remember to convert the input string to

an int (so you are comparing an int in your Boolean expression). Remember to prompt again at

the end (aka “bottom”) of the loop.

4. There will be no error checking in this assignment. If a float or a string is entered at the

prompt, the program will crash.

Test Cases

Test Case 1

_____________________________________________________________

Enter income as an integer with no commas: 8000

Income: 8000

2017 tax: 800.00

2018 tax: 800.00

Difference: 0.00

Difference (percent): 0.00

Enter income as an integer with no commas: 15000

Income: 15000

2017 tax: 1783.75

2018 tax: 1609.50

Difference: -174.25

Difference (percent): 9.77

Enter income as an integer with no commas: 40000

Income: 40000

2017 tax: 5738.75

2018 tax: 4739.50

Difference: -999.25

Difference (percent): 17.41

Enter income as an integer with no commas: 100000

Income: 100000

2017 tax: 20981.75

2018 tax: 18289.50

Difference: -2692.25

Difference (percent): 12.83

Enter income as an integer with no commas: 200000

Income: 200000

2017 tax: 49399.25

2018 tax: 45689.50

Difference: -3709.75

Difference (percent): 7.51

Enter income as an integer with no commas: 500000

Income: 500000

2017 tax: 153818.85

2018 tax: 150689.50

Difference: -3129.35

Difference (percent): 2.03

Enter income as an integer with no commas: 1000000

Income: 1000000

2017 tax: 351818.85

2018 tax: 335689.50

Difference: -16129.35

Difference (percent): 4.58

Enter income as an integer with no commas: 10000000

Income: 10000000

2017 tax: 3915818.85

2018 tax: 3665689.50

Difference: -250129.35

Difference (percent): 6.39

Enter income as an integer with no commas: -1

Test 2

______________________________________________________________

Enter income as an integer with no commas: -1

Run test cases 3,4,5 and more yourself.

python

Answer 1

Program

def CalculateTax2017(income):
    if(income<=9325):
        return 0.10*income
    elif(income>=9326 or income<=37950):
        totaltax=CalculateTax2017(9325)
        return totaltax+0.20*(income-9325)
    elif(income>=37951 or income<=91900):
        totaltax=CalculateTax2017(37950)
        return totaltax+0.25*(income-37950)
    elif(income>=91901 or income<=191650):
        totaltax=CalculateTax2017(91900)
        return totaltax+0.28*(income-91900)
    elif(income>=191651 or income<=416700):
        totaltax=CalculateTax2017(191650)
        return totaltax+0.33*(income-191650)
    elif(income>=416701 or income<=418400):
        totaltax=CalculateTax2017(416700)
        return totaltax+0.35*(income-416700)
    elif(income>=418401 ):
        totaltax=CalculateTax2017(418400)
        return totaltax+0.396*(income-418400)

  

def CalculateTax2018(income):
    if(income<=9525):
        return 0.10*income
    elif(income>=9526 or income<=38700):
        totaltax=CalculateTax2018(9525)
        return totaltax+0.12*(income-9525)
    elif(income>=38701 or income<=82500):
        totaltax=CalculateTax2018(38700)
        return totaltax+0.22*(income-38700)
    elif(income>=82501 or income<=157500):
        totaltax=CalculateTax2018(82500)
        return totaltax+0.24*(income-82500)
    elif(income>=157501 or income<=200000):
        totaltax=CalculateTax2018(157500)
        return totaltax+0.32*(income-157500)
    elif(income>=200001 or income<=500000):
        totaltax=CalculateTax2018(200000)
        return totaltax+0.35*(income-200000)
    elif(income>=500001 ):
        totaltax=CalculateTax2018(500000)
        return totaltax+0.37*(income-500000)

def main():
         income=int(input("Enter income as an integer with no commas: $"))
         tax_2017=CalculateTax2017(income)
         tax_2018=CalculateTax2018(income)
         print("Income: $",income)
         print("2017 tax: $",tax_2017)
         print("2018 tax: $",tax_2018)
         print("Difference: $",tax_2018-tax_2017)
       
main()