Suppose there is a 20% tax on the first $20,000 of taxable income, a 40% tax on taxable income above $20,000 until $30,000, and a 50% tax on all taxable income above $30,000. There is a $3,000 exemption per person. What is the marginal tax rate for a single mother making $25,000 who has one child?

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To determine the marginal tax rate for a single mother making 25000 with one chil... View the full answer