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Regarding your 2nd question: A 50% increase in taxes sounds accurate. This is only because those on the left hand side of the graph pay little to no personal in
by edawerd 14y ago
Regarding your 2nd question: A 50% increase in taxes sounds accurate. This is only because those on the left hand side of the graph pay little to no personal income tax. The largest tax they pay is the Social Security Tax, which is set to increase from 4.2% to 6.2% -- nearly a 50% increase.
- sarah2079 14y agoI realize their starting tax was low, but I still feel much sadder about the $1000 tax increase for a married couple earning $25k combined than my (cough) times greater tax increase.