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Leonardo, Who Is Married but Files Separately, Earns $80,000 of Taxable

question 2

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Leonardo, who is married but files separately, earns $80,000 of taxable income. He also has $15,000 in city of Tulsa bonds. His wife, Theresa, earns $50,000 of taxable income. If Leonardo earned an additional $30,000 of taxable income this year, what would be the marginal tax rate (rounded) on the extra income for year 2016?

Definitions:

Libidinal Desires

Refers to the psychic drive or energy associated with sexual instinct and desires in psychoanalytic theory.

Ego Employed

The utilization of one's self-importance, self-esteem, or identity in navigating or influencing social or psychological scenarios.

Freud

Refers to Sigmund Freud, an Austrian neurologist and the founder of psychoanalysis, a method for treating psychopathology through dialogue between a patient and a psychoanalyst.

Oedipal Complex

A concept in psychoanalytic theory referring to a child's unconscious sexual desire for the opposite-sex parent and jealousy toward the same-sex parent.