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Highest and the lowest income bracket

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Reference no: EM131437923

Marginal income tax rate is the percentage of last dollar of income that goes to taxes.

Find the data on individual income tax rate in the US on the following web site 

Go to https://www.taxpolicycenter.org/

Go to https://www.taxpolicycenter.org/statistics/historical-individual-income-tax-parameters

Find the appropriate tax rate for the highest and the lowest income bracket. 

  1.  Graph the marginal individual income tax rates for the highest and lowest income brackets from 1913-2017 in Excel.

Carefully label the axis. Put year on the horizontal axis and the marginal income tax rate on the vertical axis. 

  1. Is federal income tax in the US progressive? Explain why or why not?
  2. What happened to the individual income tax rates over time? Explain.

Reference no: EM131437923

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