The percentage of the next dollar you earn that must be paid in taxes is referred to as the ________ tax rate.

Name: The percentage of the next dollar you earn that must be paid in taxes is referred to as the ________ tax rate.
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Question

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The percentage of the next dollar earned that must be paid in taxes is known as the marginal tax rate. This rate applies only to the additional income earned; it does not apply to the entire income.

The Percentage of the Next Dollar You Earn That Must