Asked by marisol castorena on Sep 29, 2024
What is the highest rate of taxation that one pays on the last dollar he or she makes called?
A) Progressive tax rate
B) Regressive tax rate
C) Marginal tax rate
D) Tax liability rate
E) Temporary tax rate
Marginal Tax Rate
The rate at which the last dollar of income is taxed, illustrating how much tax will be paid on an additional dollar of income.
- Absorb the essentials of taxation, highlighting progressive taxation and tax loopholes, and their repercussions on the socioeconomic landscape.
Learning Objectives
- Absorb the essentials of taxation, highlighting progressive taxation and tax loopholes, and their repercussions on the socioeconomic landscape.
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