To Do Create a spreadsheet to answer the following: a. Using the federal tax rates given in the table above for married couples filing joint returns, calculate the taxes for both the Smiths and the Joneses. b. Calculate the ratio of the Smiths' to the Joneses' taxable income and the ratio of the Smiths' to the Joneses taxes. What does this demonstrate about the federal income tax structure? Solution a. Using the federal tax rates given in the table above for married couples filing joint returns, calculate the taxes for both the Smiths and the Joneses. $130,000 The Smiths' taxable income Tax for the Smiths The Joneses' taxable income Tax for the Joneses $65,000 b. Calculate the ratio of the Smiths' to the Joneses' taxable income and the ratio of the Smiths' to the Joneses' taxes. Ratio of taxable incomes Ratio of taxes What does this demonstrate about the federal income tax structure? 4:31 | LIE X attachment1.png = Helpful Unhelpful Ask Expert Tutors To Do Create a spreadsheet to answer the following: a. Using the federal tax rates given in the table above for married couples filing joint returns, calculate the taxes for both the Smiths and the Joneses. b. Calculate the ratio of the Smiths' to the Joneses' taxable income and the ratio of the Smiths' to the Joneses taxes. What does this demonstrate about the federal income tax structure? Solution a. Using the federal tax rates given in the table above for married couples filing joint returns, calculate the taxes for both the Smiths and the Joneses. $130,000 The Smiths' taxable income Tax for the Smiths The Joneses' taxable income Tax for the Joneses $65,000 b. Calculate the ratio of the Smiths' to the Joneses' taxable income and the ratio of the Smiths' to the Joneses' taxes. Ratio of taxable incomes Ratio of taxes What does this demonstrate about the federal income tax structure? 4:31 | LIE X attachment1.png = Helpful Unhelpful Ask Expert Tutors