1- What are the goals of the Deposit Insurance Corporation? 2- what is the Income tax brackets? Thank you in advance. Regards.

The deposit insurance corporation created in 1933 is responsible for insuring the deposits of the US banks in case of emergency. It is an independent federal agency. It was created to keep the financial system stable by promoting sound banking practises. It insures deposit amount upto $250,000 if the depositor is a member firm. The consumers should confirm whether heir institution is FDIC insured or not. Its main objective is to avoid "Great Depression " like situation by preventing bank runs.

Tax bracket is a range of income that is taxable. Tax brackets follow a progressive tax system in which the tax progressively increases as a persons income grows.  People with low income either fall into low tax brackets or don't have to pay tax at all.

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