Examlex
One of the main reasons that information disappears from short-term memory is because of:
Marginal Tax Rate
The percentage of tax applied to your income for each tax bracket in which you qualify, essentially the rate applied to the last dollar of the taxpayer's income.
Federal Income Tax
An annual fee collected by the United States federal government from individuals, corporations, trusts, and other legal entities' earnings.
Average Tax Rate
The ratio of the total amount of taxes paid to the total tax base (income, expenditure, or asset), representing the overall burden of the tax.
Marginal Tax Rate
The rate at which the next dollar of taxable income would be taxed, relevant in progressive tax systems where tax rates increase as income increases.
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