FilmFestGuy
DP Veteran
- Joined
- Dec 13, 2009
- Messages
- 2,120
- Reaction score
- 1,244
- Location
- Nashville, TN
- Gender
- Male
- Political Leaning
- Slightly Liberal
You are lying
if you have a tax rate of 30% that means you pay 30 dollars on every 100 you make after hitting that bracket
if your taxes go to 33% that means you pay 33 Dollars on ever 100 you make after that bracket
30 dollars to 33 dollars is MORE THAN A THREE PERCENT INCREASE IN YOUR TAXES
given dividend income taxes are more than doubling I will be paying far more than what you claim as well and almost everyone who is in the top bracket has income from dividends
you are the liar, not me.
and why should I pay a higher rate than you-I still would pay more in taxes and I certainly don't use as much as most of the low bracket payers. I don't use the emergency room for health care. I don't live in an area that constantly requires police attention. My family isn't engaged in criminal activity requiring the court system. My son goes to a private school even though I pay far more in property taxes than all but a few people in my city given I am one of the three largest individual landowners. I don't get any sort of welfare.
WRONG! Income tax in the United States - Wikipedia, the free encyclopedia
You only pay the rate on the dollars earned within that bracket.
In other words: the tax rate for income up to $8,375 is 10%. So you - and the guy who only earns $8,375 is 10% on the first $8,375.
You make more than that. So, you pay on the money you earn between $8,375 and $34,000 a rate of 15%. Granted, he doesn't pay that, but that's because he doesn't make it. But you're not paying an additional 5% on your first $8,375. You paid 10% on that. (or whatever the current rate it).
And that continues all the way up.
If you think otherwise, then you have a terrible accountant.