9. 13.9 It is a known fact that the U.S. graduated tax rates require people with higher income levels to pay more federal taxes. A common question:

Just how much more of total income and TI does it take? Consider the salary, investment dividend, and other income data shown for two families; both file as ‘Married filing jointly’. The standard deduction per family is $24,000 and there is no personal exemption allowed as of the year 2018 per current tax law. For each family, determine the percent of

(a) total family income, and

(b) taxable income consumed by federal taxes. Solve by spreadsheet or equation, as instructed. Table Summary: Table divided into three columns shows income data to calculate total taxable income of two families. The column headers are marked from left to right as: family; Carrolton; and Thompson. Family Carrolton Thompson Salaries, $1000 65 290 Dividends, $1000 12 58 Other income 0 14