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(Last Word) What Is the Long-Run fiNancial Problem for Medicare

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(Last Word) What is the long-run financial problem for Medicare?


Definitions:

Absolute Amount

A total figure or quantity without any adjustments, reductions, or modifications, representing a raw or unadjusted figure.

Tax Rate

The percentage at which an individual or corporation is taxed.

Marginal Tax Rate

The rate at which the last dollar of income is taxed, reflecting the percentage of tax paid on any additional dollar earned.

Average Tax Rate

The ratio of the total amount of taxes paid to the total income of the taxpayer, indicating the burden of taxation.

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