Comparing Marginal and Average Income Tax Rates

There was a mini-uproar this past week in the personal finance blogosphere. It seems that one veteran blogger published a guest post from another veteran blogger about the tax consequences of paying mortgage interest. The problem was that the author fundamentally misunderstood the difference between marginal and average tax rates. Surprisingly, the comments to the subsequent apology indicated that there are a lot of folks out there who do not understand the difference. So I decided to write a brief article about. Read more