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The federal rate is progressive and not on the entire income. 37% applies only on the taxable income above $518K. Why is this misrepresentation?
by vaidhy 5y ago
The federal rate is progressive and not on the entire income. 37% applies only on the taxable income above $518K. Why is this misrepresentation?
- pessimizer 5y agoI spent an hour arguing about taxes with someone until I realized that they didn't understand how marginal taxes worked. I bet you dollars to donuts that if you start talking about taxes in a room full of upper-middle class people, one will tell you about people choosing not to earn more money so they don't get "bumped" into a higher tax rate.