Consider the following hypothetical income tax brackets for a married couple. Assume for simplicity there are no exemptions or deductions. Income Tax Rate $0-$20,000 $20,001-$50,000 $50,001-$100,000 $100,001 and up 10% 20 45 60 Suppose the couple's income is $80,000. The couple's marginal tax rate is 45 percent. (Enter your response as a whole number.) The couple's average tax rate is percent. (Enter your response rounded to the nearest whole number.)
Consider the following hypothetical income tax brackets for a married couple. Assume for simplicity there are no exemptions or deductions. Income Tax Rate $0-$20,000 $20,001-$50,000 $50,001-$100,000 $100,001 and up 10% 20 45 60 Suppose the couple's income is $80,000. The couple's marginal tax rate is 45 percent. (Enter your response as a whole number.) The couple's average tax rate is percent. (Enter your response rounded to the nearest whole number.)
Chapter11: Fiscal Policy And The Federal Budget
Section11.1: The Federal Budget
Problem 2ST
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