Asked by OLUSEGUN ADELEKE on Jun 15, 2024
Verified
As a person's or family's income rises, the marginal federal income tax rate __________.
Marginal Tax Rate
The rate at which your last dollar of income is taxed, indicating the percentage of tax applied to your income for each tax bracket in which you qualify.
- Determine and assimilate knowledge on average and marginal tax rates.
Verified Answer
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Learning Objectives
- Determine and assimilate knowledge on average and marginal tax rates.