Quote:
Originally Posted by peter12
Also can you imagine being in the top bracket and paying 91% of your income in tax? My god, talk about a disincentive.
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It’s not 91% on your income, it’s 91% on the amount of income that falls within that bracket. So theoretically if your income was 10 million and the top marginal rate was 91% for income over 9.9 million you’d pay 91% on 100k if I’m remembering how taxes work. Taxes are fun.
Edit: peter’s response is a good indicator though why talking to voters about taxes is a bad idea. If someone like peter who fancies himself as intelligent doesn’t understand it how can you expect some American public school educated bumpkin to grasp anything? Hell I’ve paid American taxes my entire working life and I’m still spotty on bits and pieces.