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Alice pays 9% of her $117k income. Bob pays 18% of his $234k income. Those are lower tax rates than the present, so not sure why Alice would be unhappy with it.
by tunesmith 11y ago
Alice pays 9% of her $117k income. Bob pays 18% of his $234k income. Those are lower tax rates than the present, so not sure why Alice would be unhappy with it. Carol pays nothing. Floor is the poverty rate, so no one makes infinity.
- deleted 11y ago[deleted]
- njonsson 11y agoUnless I’m mistaken, if Alice pays 9% of $117,000 (i.e., $10,530), then Bob pays 11.7% of $234,000 (i.e., $27,400). An 18% tax rate would apply to earners of $1,170,000 (i.e., $210,600 in tax). The high end would be a 63% tax rate applicable to earners of $117 billion (i.e., $73.71 billion in tax).
- tunesmith 11y agoYes, I got 2x and 10x confused, thanks.