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THE IMPACT OF IMMIGRANTS IN RECESSION AND ECONOMIC EXPANSION

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Tax policy analysts often use two concepts of tax rates. The first is the marginal tax rate or the tax rate on the last dollar of income. If a taxpayer’s income were to increase by $1, the marginal tax rate indicates what proportion of that dollar would be paid in taxes. The highest marginal tax rate is referred to as the top marginal tax rate. How much an additional dollar is taxed depends on if it is ordinary income (e.g., wages) or capital gains. The second concept of tax rates is the average or effective tax rate, which is the...
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THE IMPACT OF IMMIGRANTS IN RECESSION AND ECONOMIC EXPANSION

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