Tax Rates Reflect Well Being: Difference between revisions
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Revision as of 21:31, 4 February 2025
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Marginal tax rate is the rate of tax devote on your last (or highest) quantity of income. In the last described example, the individual is being taxed with a marginal tax rate of 25% with taxable income of $45,000. This should mean she is paying 25% on her last dollars of income (more than $33,950).
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