When we say most Americans are in the 15-percent tax bracket, we mean federal taxes are about 15 percent of the income of most Americans.

Question

Quizplus · Accepted Answer

The statement oversimplifies the U.S. federal income tax system, which uses progressive tax brackets. Not all income is taxed at the same rate, and many Americans fall into different brackets for different portions of their income. Additionally, deductions and credits can significantly alter effective tax rates.

When We Say Most Americans Are in the 15-Percent Tax