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Everybody forgets about Social Security and Medicare. Writing out the federal marginal rates for the different income brackets with SS and Medicare included is
by drdec 6y ago
Everybody forgets about Social Security and Medicare. Writing out the federal marginal rates for the different income brackets with SS and Medicare included is very eye-opening.
- bzbarsky 6y agoThe other thing people forget are means-tested aid programs each of which is seemingly designed without considering interactions with the other ones. There are various places in the 0-$40k income range where people face >100% marginal rates due to the combination of actual taxes and benefit phaseouts...