Many people think that if an increase in earnings moves their salary to a higher tax bracket,

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Many people think that if an increase in earnings moves their salary to a higher tax bracket, their entire salary will be taxed at the higher rate. Is this true? Give an example to justify your answer.

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Business Math

ISBN: 978-0133011203

10th edition

Authors: Cheryl Cleaves, Margie Hobbs, Jeffrey Noble

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Question Posted: Mar 11, 2016 01:46 AM

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Many people think that if an increase in earnings moves their salary to a higher tax bracket,

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No Only the portion of the total income that falls into the higher bracket is taxed at th...View the full answer

Business Math

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