Math & YOU | 5.2 Graduated Income Tax

5.2 Graduated Income Tax

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Math Help

Using a spreadsheet is an easy way to calculate a graduated income tax, as shown in Examples 1 and 2.

Also notice that the tax tables on pages 212 and 213 are for single taxpayers. The tables below show the graduated income tax for the taxable income (after deductions) of a married couple filing jointly or separately in 2010. Compare the rates with the single taxpayer table (also shown below). (See also Exercises 1-6.)
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Checkpoint Solution

Use a spreadsheet to calculate the income tax owed.

The state income tax is $16,378.60.

The effective tax rate is
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Guest 1 year ago |

hojye

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Guest 1 decade ago |

When Obama was running for president, I remember that he wanted to remove the cap on Social Security tax and also wanted to increase the highest income tax rate to 40%. That means that as a self employed business person in California, I would be paying 40% (IRS) + 10.55% (CA) + 15% (SS) = 65.55% of my income for state and federal taxes! How is it that a person can think this is right? I guess this is the definition of socialism. I am allowed to keep one-third, the government takes two-thirds.

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