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The U.S. Supreme Court applied the exclusionary rule to the states in Rakas v. Illinois.
Social Security Tax
Taxes levied on both employers and employees to fund the Social Security program, which provides retirement, disability, and survivor benefits.
Taxable Income
The amount of an individual's or corporation's income used to determine how much tax is owed to the government.
Marginal Tax Rate
The percentage of tax applied to your income for every tax bracket in which you qualify.
Average Tax Rate
The fraction of an individual's total income that is paid in taxes, calculated by dividing the total taxes paid by total income.
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