Asked by
Aaliyah Adams
on Oct 13, 2024
Verified
The tax rates embodied in the federal personal income tax are such that
A) a rising absolute amount,but a declining proportion,of income is paid in taxes.
B) the marginal and average tax rates are equal,making the tax progressive.
C) the average tax rate rises more rapidly than does the marginal tax rate.
D) the marginal tax rate is higher than the average tax rate,causing the average tax rate to rise.
Federal Personal Income Tax
Federal Personal Income Tax is a tax levied by the federal government on the annual income of individuals.
Marginal Tax Rate
The rate at which the last dollar of income is taxed, reflecting the percentage of tax paid on any additional dollar of income.
- Discern the implications of fiscal policies on assorted income levels and their progressiveness or regressiveness.
- Analyze the structure of federal income tax and how it affects individuals and households with varying incomes.
Verified Answer
SM
Learning Objectives
- Discern the implications of fiscal policies on assorted income levels and their progressiveness or regressiveness.
- Analyze the structure of federal income tax and how it affects individuals and households with varying incomes.