Quote:
Originally Posted by Aurel
7. Teaching Math In 2020
A logger sells a truckload of lumber for $100. His cost of production is $80 and his profit is $20.
His tax bracket is 40%, and the inflation rate is 10%/yr. How much money left in his pocket a year from now?
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At the rate we're going, the concept of a logger (a private individual!) producing something for a price and selling it for this outdated notion that we oldtimers used to call a (gasp, evil) "profit," may be unknown.
"A Government Labor Unit works 8 hours at the Central Office of Lumber and Other Wood Products Production. His Pay Grade Rate is 5 Governmental Monetary Units per hour. How many GMU's are credited to his Government Compensation Collection Account after one day of labor?"