Instructions 1) Use the attached Tax Tables for the years 1945 and 2020 and calculate the total tax bill and effective tax rate for a married couple earning $250,000 in 1945 and a married couple earning the equivalent amount adjusted for inflation of $3,600,000 in 2020. (There was no standard deduction in 1945.) 2) Suppose a state has a sales tax rate of 11%. Calculate the effective sales tax rate for someone who earns $30,000 and saves $1,000, and someone who earns $100,000 and saves $15,000. viele Ge 100 Windone Unte D- QUES Nominal 1945 Married Flint Married Fling Separately Single Head of Household wwginal Tax Brackets Marginal Tax Brackets Marginal Tar Brackets Marginal Tax Brackets Tax Rate Over But Not Over Tax Rate Over But Not Over Tax Rate Over But Not Over Tax Rate Over But Not Over 23.0% SO $2.000 25.0% $2,000 $4.000 Listed tax rates and brackets Listed tax rates and brackets Listed tax rates and brackets 29.0% $4,000 $6,000 apply to all taxpayers. apply to all taxpayers. apply to all taxpayers. 33.0% $6,000 $8,000 37.0% $8.000 $10,000 41.0% $10,000 $12,000 460% $12.000 $14,000 50.0% $14,000 $16,000 530% $16,000 $18,000 560 $18,000 $20,000 59.0% $20,000 522.000 62.0% $22.000 $26.000 65.0% $26.000 $32.000 68.0% $32,000 $38.000 720% $38.000 $44.000 75.0% $44,000 $50,000 78.0% $50,000 $60,000 81.0% $60,000 $70,000 84.0% $70,000 $80,000 87 0% 500,000 $80,000 90.0% $90,000 $100,000 920% $100.000 $150,000 93.0% $150,000 $200,000 $40% $200,000 Taxis en op Theme COS income was pret Lato change Nominal 2020 Married Filing Jointly Married Filing Separately Single Head of Household Marginal Tax Brackets Marginal Tax Brackets Marginal Tax Brackets Marginal Tax Brackets Tax Rate Over But Not Over Tax Rate Over But Not Over Tax Rate Over But Not Over Tax Rate Over But Not Over 10.0% SO $19.750 10.0% $0 $9,875 10.0% $0 $9,875 10.0% $0 $14,100 12.0% $19,750 $80,250 12.0% $9.875 $40,125 12.0% $9,875 $40,125 12.0% $14100 $53.700 22.0% $80 250 $171,050 22.0% $40,125 $85,525 220% $40,125 $85,525 22.0% $53,700 $85,500 24,0% $171,050 $326,600 24.0% $85,525 $163,300 24.0% $85,525 $ 163,300 24.0% $85,500 $163,300 32.0% $326,600 $414,700 32.0% $163,300 $207,350 32.0% $163,300 $207,350 32.0% $163,300 $207,350 35.0% $414 700 $622,050 35.0% $207,350 $311,025 35.0% $207,350 $518,400 35.0% $207,350 $518,400 37.0% $622,050 37.0% $311,025 37.0% $518,400 37.0% $518.400 Standard Deduction: Single $12,400; Married Filing Jointly $24,800; Head of Household $18,650 Instructions 1) Use the attached Tax Tables for the years 1945 and 2020 and calculate the total tax bill and effective tax rate for a married couple earning $250,000 in 1945 and a married couple earning the equivalent amount adjusted for inflation of $3,600,000 in 2020. (There was no standard deduction in 1945.) 2) Suppose a state has a sales tax rate of 11%. Calculate the effective sales tax rate for someone who earns $30,000 and saves $1,000, and someone who earns $100,000 and saves $15,000. viele Ge 100 Windone Unte D- QUES Nominal 1945 Married Flint Married Fling Separately Single Head of Household wwginal Tax Brackets Marginal Tax Brackets Marginal Tar Brackets Marginal Tax Brackets Tax Rate Over But Not Over Tax Rate Over But Not Over Tax Rate Over But Not Over Tax Rate Over But Not Over 23.0% SO $2.000 25.0% $2,000 $4.000 Listed tax rates and brackets Listed tax rates and brackets Listed tax rates and brackets 29.0% $4,000 $6,000 apply to all taxpayers. apply to all taxpayers. apply to all taxpayers. 33.0% $6,000 $8,000 37.0% $8.000 $10,000 41.0% $10,000 $12,000 460% $12.000 $14,000 50.0% $14,000 $16,000 530% $16,000 $18,000 560 $18,000 $20,000 59.0% $20,000 522.000 62.0% $22.000 $26.000 65.0% $26.000 $32.000 68.0% $32,000 $38.000 720% $38.000 $44.000 75.0% $44,000 $50,000 78.0% $50,000 $60,000 81.0% $60,000 $70,000 84.0% $70,000 $80,000 87 0% 500,000 $80,000 90.0% $90,000 $100,000 920% $100.000 $150,000 93.0% $150,000 $200,000 $40% $200,000 Taxis en op Theme COS income was pret Lato change Nominal 2020 Married Filing Jointly Married Filing Separately Single Head of Household Marginal Tax Brackets Marginal Tax Brackets Marginal Tax Brackets Marginal Tax Brackets Tax Rate Over But Not Over Tax Rate Over But Not Over Tax Rate Over But Not Over Tax Rate Over But Not Over 10.0% SO $19.750 10.0% $0 $9,875 10.0% $0 $9,875 10.0% $0 $14,100 12.0% $19,750 $80,250 12.0% $9.875 $40,125 12.0% $9,875 $40,125 12.0% $14100 $53.700 22.0% $80 250 $171,050 22.0% $40,125 $85,525 220% $40,125 $85,525 22.0% $53,700 $85,500 24,0% $171,050 $326,600 24.0% $85,525 $163,300 24.0% $85,525 $ 163,300 24.0% $85,500 $163,300 32.0% $326,600 $414,700 32.0% $163,300 $207,350 32.0% $163,300 $207,350 32.0% $163,300 $207,350 35.0% $414 700 $622,050 35.0% $207,350 $311,025 35.0% $207,350 $518,400 35.0% $207,350 $518,400 37.0% $622,050 37.0% $311,025 37.0% $518,400 37.0% $518.400 Standard Deduction: Single $12,400; Married Filing Jointly $24,800; Head of Household $18,650