Problem: How do you calculate a marginal tax rate if all you get are these stats? Could you please show your work so I can do this on my own if it's on a test? Thanks!
Suppose taxes are related to income level as follows:
INCOME / TAXES
$1,000 / $200
$2,000 / $350
$3,000 / $450
Is the tax rate progressive, proportional or regressive?
What is the marginal tax rate on the first $1,000 of income? The second? The third?