Not sure what the difference between your marginal and effective tax rate is? We're here to help!Supreme Court Justice Oliver Wendell Holmes, Jr. once famously wrote, "Taxes are the price we pay for a civilized society." And while that's certainly true, it doesn't mean anyone should pay a penny more than they are required to.Our current complex tax code offers hundreds of ways to reduce what you owe, and because of its progressive design, your tax rate rises along with your income.