The goal of this project is use integers, floats, conditionals and iterations using python to make a fictitious comparison of the new federal income tax based on the new tax bill passed by the congress in December 2017 with the old federal income tax. You will ask the user to input their taxable income. Use the income brackets given below to calculate the new and old income tax. For the sake of simplicity of the project we will only consider individuals and not married users. We will also ignore any tax deductions while calculating income taxthey can significantly alter the tax, but add too much complexity for our programming project. New income tax brackets (2018 and newer) Rate Income range 10% Up to $9,525 12% $9,526 to $38,700 22% $38,701 to $82,500 24% $82,501 to $157,500 32% $157,501 to $200,000 35% $200,001 to $500,000 37% over $500,000 Old income tax brackets (2017 and older) Rate Income range 10% Up to $9,325 15% $9,326 to $37,950 25% $37,951 to $91,900 28% $91,901 to $191,650 33% $191,651 to $416,700 35% $416,701 to $418,400 39.6% over $418,401 Assignment Background Being in the 25% tax bracket doesnt mean you pay 25% on everything you make. The progressive tax system means that people with higher taxable incomes are subject to higher tax rates, and people with lower taxable incomes are subject to lower tax rates. For example, lets say youre a filer with $32,000 in taxable income. That puts you in the 15% tax bracket in 2017. But do you pay 15% on all $32,000? No. Actually, you pay only 10% on the first $9,325; you pay 15% on the rest. (Look at the tax brackets above to see the breakout.) If you had $50,000 of taxable income, youd pay 10% on that first $9,325 and 15% on the chunk of income between $9,326 and $37,950. And then youd pay 25% on the rest, because some of your $50,000 of taxable income falls into the 25% tax bracket. The total bill would be $8,238.75 about 16% of your taxable income, even though youre in the 25% bracket.