Refer to the following table to answer the questions that follow.

-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 questions that follow.
 
-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 such that a $67,000 income falls into a lower bracket and the $5,000 raise pushes the income into a higher bracket, the marginal rate would be the rate of the higher bracket, which is 25%.

Refer to the Following Table to Answer the Questions That