I found an interesting comparison for 2021.
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I’m far from rich. My tax burden went from 15% of my gross to 12% of my gross. That is a 20% reduction.
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Wow, look at all of those countries with June. July is just madness. Taking 6-7 months is just flat out theft.
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from investopedia.
“The law retained the old structure of seven individual income tax brackets, but in most cases, it lowered the rates. The top rate fell from 39.6% to 37%, while the 33% bracket dropped to 32%, the 28% bracket to 24%, the 25% bracket to 22%, and the 15% bracket to 12%. The lowest bracket remained at 10%, and the 35% bracket was also unchanged“
do you see the 10% bracket. unchanged. the poor get screwed again at the hands of the rich.
Allan
of course when the cuts expire the poor wont be effected at all.
only the rich.
Allan
why didnt they drop the lowest bracket to 8% so they too could enjoy paying 20% less taxes.
nope.
Allan
What is the threshold for 10% and what is their individual deduction? Do they pay any tax federal income tax?
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10,999 max for a single person.
yes.
Allan
Do they or do they get it all back? Come on Allen let’s see if you can be honest.
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no need to be honest or dishonest when stating facts
88% do not.
12% do.
from the tax policy center (brookings)
“About 12 percent of households in the bottom income quintile will pay federal income tax in 2023”
now you were saying…
Allan
Tell me how does someone making 11k with a 13.5k deduction pay income tax?
“The minimum income amount depends on your filing status and age. In 2023, for example, the minimum for Single filing status if under age 65 is $13,850. If your income is below that threshold, you generally do not need to file a federal tax return.”
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dont ask me. ask brookings
Allan
You can’t think for yourself? Link to it and yes you can.
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Brookings is the best think tank in the united states.
id take their word over a layman such as yourself with limited resources at your disposal.
Allan
Funny thing Allan, you first have to be paying taxes in order to benefit from a tax cut. The 10% tax bracket is for people making less than $11,600 ($25,450 gross) after their standard deduction.
Here’s another fun fact. 49% of people with income paid no Federal tax at all.
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They don’t. And in some instances, they actually get back more than they paid in.
Facts Allan. Face them.
i shared a link from the brookings institute that clearly states in inequitable terms that 12% of the poor in the United states do in fact pay income taxes.
you layman exercise notwithstanding.
good try for a layman however.
Allan
Yes. When over 30% of my income over a certain amount is taken by the government, I laugh at the poor fools who have to pay 10% of their income. I refuse to pay my fair share.
I understand it is necessary to take money from people who have money. Just don’t tell me it is more fair to take more of my money because I managed to earn more. Fair has nothing to do with it.
No you didn’t, you quoted them (allegedly.) And what you quoted from the Brookings Institute does not contradict what I posted.
