The Federal Taxes Owed by a Taxpayer Depend

Multiple Choice

The federal taxes owed by a taxpayer depend

A) only upon the marginal tax rate on the taxpayer's first $25,000 of income.
B) only upon the marginal tax rate on the taxpayer's last $10,000 of income.
C) upon all the marginal tax rates up to the taxpayer's overall level of income.
D) upon all the marginal tax rates,including those for income levels that exceed the taxpayer's overall level of income.