Refer to the following table to answer the following questions:
-Using the table,what is the marginal income tax rate of a $5,000 raise for someone who currently makes $67,000 per year?

Question

Refer to the following table to answer the following questions: 
-Using the table,what is the marginal income tax rate of a $5,000 raise for someone who currently makes $67,000 per year?

Quizplus · Accepted Answer

The marginal tax rate is the rate at which the last dollar of income is taxed. Assuming the tax brackets are similar to those in the U.S., a $67,000 income likely falls into the 25% tax bracket, so a $5,000 raise would also be taxed at 25%.

Refer to the Following Table to Answer the Following Questions