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What is the marginal tax rate on the first 1000 of income

Question: (Tax Rates)Suppose taxes are related to income as follows:

Income Taxes

$1,000 $200

$2,000 $350

$3,000 $450

1. What percentage of income is paid in taxes at each level?

2. Is the tax rate progressive, proportional, or regressive?

3. What is the marginal tax rate on the first $1,000 of income? The second $1,000? The third $1,000?

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Finance Basics: What is the marginal tax rate on the first 1000 of income

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