Online: | |
Visits: | |
Stories: |
Story Views | |
Now: | |
Last Hour: | |
Last 24 Hours: | |
Total: |
from the Congressional Budget Office
– this post authored by Shannon Mok
When workers’ earnings rise but their after-tax income rises less – because of increases in their income and payroll taxes or declines in their benefits from government programs – their incentive to work typically declines. The percentage of an additional dollar of a person’s earnings that is unavailable for such reasons is called the marginal tax rate.