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View Diary: Do YOU understand how tax brackets work??? (25 comments)

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  •  Part of the problem is how we talk about (4+ / 0-)
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    Brainwrap, Sylv, Orinoco, Melanie in IA

    different PEOPLE being in different tax brackets. But they are not. It's income that's in those brackets, different parts of your income in different brackets.

    What's helpful to me about this post is getting a better sense of how widely the system is misunderstood. Like an earlier commenter, I didn't always know about it. My dad explained it to me when I was about 23. But I sure figured everyone else knew, especially business-oriented people. As you suggest: if they don't know about that, what the heck do they know?

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