I know that for U.S. Federal Personal Income Tax, the schedule is progressive, so for a single person filing for $60,000 (in 2011 for this example), the first $34,500 is taxed at 15% and then the rest is taxed at 25%.
What I don't understand is how the numbers in the "The Tax Is" column were calculated. For example, 15% of $34,500 is $5,175, not $4,750. How is the $4,750 calculated?
See the attached image here Tax Bracket Schedule