Posted by
**lexzorbrian** on
.

124. Marriage penalty eliminated. The value of the expression

4220 + 0.25(x 30,650)

is the 2006 federal income tax for a single taxpayer with

taxable income of x dollars, where x is over $30,650 but

not over $74,200.

a) Simplify the expression.

b) Find the amount of tax for a single taxpayer with

taxable income of $40,000.

c) Who pays more, a married couple with a joint taxable

income of $80,000 or two single taxpayers with

taxable incomes of $40,000 each? See Exercise 123.