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marginal tax rate

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The rate at which income over a certain amount is taxed. Although in general, graduated income taxes impose higher tax rates on higher incomes, the tax rate does not rise for each additional dollar earned. Rather, it rises by income brackets, and each tax rate applies only to income that falls in that bracket. For example, in 2002, the highest marginal federal tax rate was 38.5 percent, which for single taxpayers was imposed on income in excess of $54,000.

QUIZZES

QUIZ YOURSELF ON PARENTHESES AND BRACKETS APLENTY!

Set some time apart to test your bracket symbol knowledge, and see if you can keep your parentheses, squares, curlies, and angles all straight!
Question 1 of 7
Let’s start with some etymology: What are the origins of the typographical word “bracket”?
The New Dictionary of Cultural Literacy, Third Edition Copyright © 2005 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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