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I thought it was a 4% increase on the marginal rate, which is currently 35%. I was also under the impression that the top rate only applied to salary over 349k
by kenver 18y ago
I thought it was a 4% increase on the marginal rate, which is currently 35%. I was also under the impression that the top rate only applied to salary over 349k, not 250k. So if you're on less than that there will be no change, and over that you will be paying 4 cents more per dollar, which desn't sound that bad to me, but then again I won't be paying it!
- anamax 18y ago4% on 35% is 10% more taxes. Yes, that's marginal, but you're forgetting the phase-outs for various deductions and credits. They can push the marginal rates up quite a bit. Most of the ones that I know about are at less than $250k.