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Explain the purposes of the U.S.Constitution.
Federal Income Tax
The United States federal government imposes a financial charge on the yearly revenues of individuals, corporations, trusts, and other legal entities.
Marginal Tax Rate
The tax rate that applies to the next additional increment of a taxpayer's taxable income.
Taxable Income
The portion of an individual's or a corporation's income that is subject to taxation by the government.
Marginal Tax Rate
The rate of tax applied to the last dollar of income or the next dollar of taxable income earned.
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