Table 12-12United States Income Tax Rates for a Single Individual, 2009 and 2010. 2009 Tax RatesIncome Ranges2010 Tax RatesIncome Ranges 15% $0 – $28,000 10% $0 – $10,000 28% $28,000 – $70,000 15% $10,000 – $30,000 31% $70,000 – $140,000 27% $30,000 – $60,000 36% $140,000 – $300,000 30% $60,000 – $150,000 40% over $300,000 35% $150,000 – $320,000 38% over $320,000 Refer to Table 12-12. Kurt is a single person whose taxable income is $35,000 a year. What is his marginal tax rate in 2010?Group of answer choices10%15%27%30%

From the given table of a tax rate, if Kurt's taxable income is $35,00 a year, then the marginal tax…

Answered: United States Income Tax Rates for a…

Principles of Microeconomics

7th Edition

ISBN:9781305156050

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter12: The Design Of The Tax System

Section: Chapter Questions

Problem 4PA

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Table 12-12
United States Income Tax Rates for a Single Individual, 2009 and 2010.

2009 Tax Rates	Income Ranges	2010 Tax Rates	Income Ranges
15%	$0 – $28,000	10%	$0 – $10,000
28%	$28,000 – $70,000	15%	$10,000 – $30,000
31%	$70,000 – $140,000	27%	$30,000 – $60,000
36%	$140,000 – $300,000	30%	$60,000 – $150,000
40%	over $300,000	35%	$150,000 – $320,000
		38%	over $320,000

Refer to Table 12-12. Kurt is a single person whose taxable income is $35,000 a year. What is his marginal tax rate in 2010?

Group of answer choices

10%

15%

27%

30%

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