What is the marginal tax rate (rounded to the nearest tenth of a percentage point) for someone whose income increases from $50,000 to $80,000?

Economics (MindTap Course List)
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Chapter11: Fiscal Policy And The Federal Budget
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Use the table of tax rates below to answer questions 3 through 7.
Income range
$15,000 and below
← PREVIOUS
Tax rate
5%
$15,001-$30,000 8%
$30,001-$60,000 12%
$60,001-$120,000 20%
What is the marginal tax rate (rounded to the nearest tenth of a percentage
point) for someone whose income increases from $50,000 to $80,000?
Transcribed Image Text:Use the table of tax rates below to answer questions 3 through 7. Income range $15,000 and below ← PREVIOUS Tax rate 5% $15,001-$30,000 8% $30,001-$60,000 12% $60,001-$120,000 20% What is the marginal tax rate (rounded to the nearest tenth of a percentage point) for someone whose income increases from $50,000 to $80,000?
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