New Inflation Tax Bracket

Arjun

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This explains why people just don’t want to work anymore. In addition; when they say it hits the middle class the most - that’s because 99% of this country makes up the middle class aka America’s working class - according to Pelosi’s words, peasants
 

jpc-s4

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The one thing he doesn't mention that is extremely important to note is that the tax brackets only apply to the amount of income above the threshold for that rate. If your AGI is $2,000 above the lower limit of 24% bracket, you will only be paying that extra 2% (above the 22% bracket) on that $2,000, not your entire income. A lot of people don't know that...
 

MR2

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wow, so cheap for those earning over 500k a year... I'd expect them to be at 45% or higher.

the real issue is the lack of sorting out the companies paying real tax, if we removed all the corruption suddenly you guys could do tax free right up to 20k fuffing around with individual tax brackets is just smoke screen.
 

fenderman

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wow, so cheap for those earning over 500k a year... I'd expect them to be at 45% or higher.

the real issue is the lack of sorting out the companies paying real tax, if we removed all the corruption suddenly you guys could do tax free right up to 20k fuffing around with individual tax brackets is just smoke screen.
If we removed all the government corruption and waste we could max out at 20 percent or less. A single person making 20k only pays about 600 income tax which is way less than the 10 percent implied because they take a standard deduction of 12,950 so their taxable income is only 6k. Families that are able to utilize decoctions often pay little to no income tax depending on their income. The top 1 percent of earners pay 40 percent of the tax burden. The bottom 50 percent earning less than 45k only pay 3 percent of the tax burden despite making 12 percent of the income.

Companies do pay "real tax". The tax code is purposely designed to incentives corporations to reinvest their earnings. This stimulates the economy many times over because it flows down stream.
A 45 percent tax rate is abhorrent and repulsive. It is theft.
 

rolibr24

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Interesting…….

I need to talk to our accountant…. We’ve been kicking around homeschooling. By the savings of private school for our two kids……. The big kicker is the insurance, my wife is the insurance holder, my company doesn’t offer it.

In the end it would be more beneficial to get divorced. Which we would never do. In the end, religion trumps finance every time. As my great grandpa told my grandpa, grandpa told dad, and dad told me at our weddings, “the worst word ever to be spoken in a marriage is the D word.”
 
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