The Marginal Labor Income Tax Rate is
The difference between taxes paid net of subsidies received when working and net taxes paid when not working, expressed as a fraction of the total compensation to be earned on the job.
A variety of work decisions are considered in our economy -- working full time rather than part time, being unemployed rather than employed, being out of the labor force rather than employed -- and each has its own marginal tax rate. Marginal tax rates also vary across persons, and over time.
This web site summaries some of the important changes in marginal tax rates between 2007 and 2016.
The next marginal tax rate event is: 1/1/2016, when large-employer obligations for their full-time workers are fully phased in.
The next marginal tax rate event is: 1/1/2016, when large-employer obligations for their full-time workers are fully phased in.
