U.S Individual Income Tax: Tax Rates for Regular Tax: Lowest Bracket
This dataset tracks u.s individual income tax: tax rates for regular tax: lowest bracket over time.
Latest Value
10.00
Year-over-Year Change
0.00%
Date Range
1/1/1913 - 1/1/2018
Summary
The U.S. Individual Income Tax: Tax Rates for Regular Tax: Lowest Bracket measures the lowest marginal tax rate applied to individual income in the United States. This metric is a key indicator of the federal tax burden on personal earnings.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This economic trend represents the tax rate for the lowest income bracket in the U.S. federal individual income tax system. It is a widely tracked and influential data point used by economists, policymakers, and tax analysts to assess the progressivity of the tax code and its impact on disposable household income.
Methodology
The data is collected and published by the U.S. Internal Revenue Service.
Historical Context
This tax rate trend is closely monitored for its implications on consumer spending, saving, and investment behavior.
Key Facts
- The current lowest marginal tax rate is 10%.
- This rate applies to individual taxable income up to $10,275.
- The top marginal rate is 37% on income over $539,900.
FAQs
Q: What does this economic trend measure?
A: This trend measures the lowest marginal tax rate applied to individual income in the United States federal tax system.
Q: Why is this trend relevant for users or analysts?
A: The lowest tax bracket rate is a key indicator of the federal tax burden on personal earnings and a key input for assessing the progressivity of the tax code.
Q: How is this data collected or calculated?
A: The data is collected and published by the U.S. Internal Revenue Service.
Q: How is this trend used in economic policy?
A: This tax rate trend is closely monitored for its implications on consumer spending, saving, and investment behavior, and its role in fiscal policy.
Q: Are there update delays or limitations?
A: The data is updated annually when the IRS publishes new tax rate schedules.
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Citation
U.S. Federal Reserve, U.S Individual Income Tax: Tax Rates for Regular Tax: Lowest Bracket (IITTRLB), retrieved from FRED.