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by giantg2
2013 days ago
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But as a marginal system only taxes the income above the cutoff at the higher rate, you would still make more money. For example, you are making $99k and paying 4% (pretty close to many state income taxes) on that with the next bracket at $100k with a 6% rate. You get a raise to $110k which means you are making an additional $10360 after tax and only paying an additional $200 in tax (4% vs 6% on that $10k). I don't see why you need a 40% increase. |
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