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For 2017 the actual tax brackets for a single tax filer were: For taxable income from $0 to $9,325, you pay 10% of it in

For 2017 the actual tax brackets for a single tax filer were:

For taxable income from $0 to $9,325, you pay 10% of it in taxes, plus For taxable income from $9,326 to $37,950, you pay 15% of it in taxes, plus For taxable income from $37,951 to $91,900, you pay 25% of it in taxes, plus For taxable income from $91,901 to $191,650, you pay 28% of it in taxes, plus For taxable income from $191,651 to $416,700, you pay 33% of it in taxes, plus For taxable income from $416,701 to $418,400, you pay 35% of it in taxes, plus For taxable income at or above $418,401, you pay 39.6%.

At the end of 2017, the House proposed a new tax plan:

Proposed New Tax Plan:

For taxable income from $0 to $45,000, you pay 12% of it in taxes, plus For taxable income from $45,001 to $200,000, you pay 25% of it in taxes, plus For taxable income from $200,001 to $500,000, you pay 35% of it in taxes, plus For taxable income of $500,001 or more, you pay 39.6%.

Where the standard deduction was raised to $12,200 and the personal exemption was eliminated. For the remaining exercises, we will only consider this proposed tax plan.

  1. Complete both of the tables below:
  2. How many slopes would be on this graph?
  3. Write a function to model the total tax paid, T(x), with a total income of x dollars.
  4. How much does a person pay in taxes if their total income is $210,000?
  5. What is the slope of the line when an individual's total income is $210,000
  6. Lower Bount

    Upper Bound

    Rate

    Maximum Money in Bracket

    Maximum Tax in Bracket

    $0

    $45,000

    12%

    $5,400

    $45,000

    $155,000

    $200,000

    $105,000

    No Limit

    No Limit

    No Limit

    Total Income

    Lower Bound

    Upper Bound

    Rate

    Maximum Money in Bracket

    Maximum Tax in Bracket

    $0

    $12,200

    0%

    $12,200

    $0

    $57,200

    $45,000

    $38,750

    $512,200

    No Limit

    No Limit

    No Limit

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