2012 TAX TABLE FOR UNMARRIED INDIVIDUALS Tax Rate 10 D Tax Brackets The U S has a progressive tax system meaning the more income

Question

2012 TAX TABLE FOR UNMARRIED INDIVIDUALS Tax Rate 10 D Tax Brackets The U S has a progressive tax system meaning the more income you higher tax rate you pay Use the tax table to help you label the rest of Jim s money to show the tax rate he will pay on each part of what he made Jim s Income Tax Rate 15 25 28 33 5 Income 0 8 700 8 700 35 350 35 350 85 650 85 650 178 650 178 650 388 350 What It Means You pay 10 percent on first 8 700 your You pay 15 percent on income over 8 700 but under 35 350 You pay 25 percent on income over 35 350 but under 85 650 You pay 28 percent on income over 85 650 but under 178 650 You pay 33 percent on income over 178 650 but under 388 350 You pay 35 percent on Over 388 350 every dollar you make over 388 350 97 482 90 000 80 000 70 000 60 000 50 000 40 000 30 000 20 000 10 000 10

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