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"Assiduous in the science and skill of dealing with arms and horses and musical instruments, as well as in the pursuit of letters and the fine arts." Who authored this quote about his own important qualities?
Progressive Rate Structure
A tax system where the tax rate increases as the taxable amount increases, resulting in those with higher incomes paying a higher rate of tax on their income.
Federal Income Tax
A tax levied by the U.S. government on the annual earnings of individuals, corporations, trusts, and other legal entities, based on their income levels.
Marginal Tax Rate
The percentage of tax applied to your income for each tax bracket in which you qualify.
Taxable Income
The portion of income that is subject to income tax after all deductions, exemptions, and credits are considered.
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