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The effective tax rate an individual would face depends on how much income an individual derives from other sources during this time in addition to the basic in
by wavefunction 9y ago
The effective tax rate an individual would face depends on how much income an individual derives from other sources during this time in addition to the basic income, along with their household demographics (number of children, marriage situation).
By itself with no other income sources the individual would fall below the US federal poverty level[0] by $60 and would likely qualify for some Earned Income Credits[1] as well as subsidized health care.
Adding children or a spouse (especially a working one) will crank the tax rate up or down.
Then there is an entire universe of tax complexity having to do with credits and penalties an individual or family might face.
[0]https://aspe.hhs.gov/poverty-guidelines https://aspe.hhs.gov/poverty-guidelines
[1]https://en.wikipedia.org/wiki/Earned_income_tax_credit https://en.wikipedia.org/wiki/Earned_income_tax_credit