Problem
Sharpen Your Skills-Math: Evaluate the Marginal Tax Rate Members of Congress often have debated the importance of the marginal income tax rate on the economy. Suppose that your marginal federal income tax rate is 25 percent. You pay Social Security and Medicare taxes at a rate of 7.65 percent, and your state income tax will take 6 percent of any additional income you earn. Your boss has asked you to go on a sales trip to Chicago next weekend. She has offered to pay you an extra $500 if you agree to go. Would you accept this offer? If you did, how much of the $500 will you get to keep after taxes?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.