Both High-SES and Low-SES Parents Read Roughly the Same Amount

question 68

True/False

Both high-SES and low-SES parents read roughly the same amount to their children.

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Definitions:

Surtax

An additional tax levied on top of the base tax rate for specific purposes or income brackets.

MAGI

Modified Adjusted Gross Income is a measure used by the IRS to determine eligibility for certain tax benefits, adjusting the gross income by adding back certain deductions.

Short-term Gain

Profit realized from the sale of assets held for a year or less, subject to taxes at ordinary income rates in many jurisdictions.

Long-term Gain

The profit from the sale of an asset held for more than a year, subject to lower capital gains tax rates.