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View Diary: Do YOU understand how tax brackets work??? (124 comments)

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  •  This subject has been a pet peeve (5+ / 0-)
    Recommended by:
    Brainwrap, Pluto, ferg, fumie, not a cent

    of mine for years.

    So many people simply have no idea how marginal tax rates work.

    I remember my uncle mocking his wife for her "little job" because he said it took them just over the lower rate and now - she was actually working for FREE. (He was a real dick)

    Also, one of my sisters insisted she and her husband pay 40%! of their income to taxes. They have 3 dependents and gross income of about $120,000 a year.

    With standard deductions and dependent exemptions they would barely reach 20% tax rate!

     

    FORWARD! Obama/Biden 2012

    by Esjaydee on Mon Nov 19, 2012 at 07:26:52 PM PST

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