No we don't have a flat tax now, we have a progressive tax.
With brackets for percentage of income. lets just say for simplicity there is a 10% tax and 20% tax. The 20% bracket is 50,000 dollars and above. 10% is 49,999 and below.
What lots of idiots do not understand is that you are not taxed ALL 50,000 at 20% only the income above 50,000 is taxed at 20% the rest is still taxed at 10%.
So when you hear someone say "yeah well I made some extra money and it put me in the higher tax bracket so I make less now!!!, I might as well have not taken the raise!!! "
Call them ignorant and to go read up on how the US tax system works.
With brackets for percentage of income. lets just say for simplicity there is a 10% tax and 20% tax. The 20% bracket is 50,000 dollars and above. 10% is 49,999 and below.
What lots of idiots do not understand is that you are not taxed ALL 50,000 at 20% only the income above 50,000 is taxed at 20% the rest is still taxed at 10%.
So when you hear someone say "yeah well I made some extra money and it put me in the higher tax bracket so I make less now!!!, I might as well have not taken the raise!!! "
Call them ignorant and to go read up on how the US tax system works.
"...the illegality of cannabis is outrageous, an impediment to full utilization of a drug which helps produce the serenity and insight, sensitivity and fellowship so desperately needed in this increasingly mad and dangerous world."
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