Consider the following hypothetical income tax brackets for a married couple. assume for simplicity there are no exemptions or deductions. income tax rate $0-$20,000 5% $20,000-$50,000 20 $50,000-$100,000 45 over $100,000 55 suppose the couple's income is $60 comma 000. what is the couple's marginal tax rate? the couple's marginal tax rate is 45 percent. (enter your response as an integer.) what is their average tax rate? the couple's average tax rate is nothing percent. (enter your response as an integer)

The marginal tax rate is 45%

The average tax rate = 19.17%

Explanation:

Given:

Income Tax Rate

for income between $0 - $20,000 = 5%

for income between $20,000 - $50,000 = 20%

for income between $50,000 - $100,000 = 45%

for income between Over $100,000 = 55%

Income of the couple = $60,000

Since,

The income of the couple lies in the range of $50,000 - $100,000

therefore,

the marginal tax rate is 45%

Now,

For the average tax rate

Tax charged

for income between $0 - $20,000 = 5% of $20,000 = $1000

for income between $20,000 - $50,000 i.e $30,000 = 20% of $30,000

= $6,000

for income between $50,000 - $100,000 ( i.e $60,000 - $50,000=$10,000 )

= 45% of $10,000

= $4500

Total tax charged = $1000 + $6,000 + $4500 = $11,500

Therefore,

The average tax rate =

or

The average tax rate =

or

The average tax rate = 0.1917

or

The average tax rate = 0.1917 × 100% = 19.17%

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