[loopercal]

>especially my income is at the boundary between two tax brackets

Wait, can you explain how tax brackets work because I think there may be a fundamental misunderstanding here.

If we have two brackets, 10% for <=$100 and 90% for >$100, what do you think the tax bill would be for someone who earned $101?

[gamblor956]

It would be $10.90.

$10 for the first bracket. The remaining untaxed income is $1, taxed at 90% = $0.90 tax.

But the Republican Party has spent a lot of money to make people think that the tax would be $90.90 (i.e,. a flat rate), which is why so many people are opposed to increasing the tax bracket rates...even though the actual affect is marginal to most people (even those affected).

[loopercal]

The smartest person I know, idolized him since I was a kid, had that same misconception last year when we were discussing top end tax brackets.

I feel like every April news orgs should just run segments with accountants doing this example.