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re: Here's the new tax brackets in case you're wondering.
Posted on 12/21/17 at 12:16 pm to The Mick
Posted on 12/21/17 at 12:16 pm to The Mick
He is talking about the poster saying he will have 4% more on his check. He is saying the poster doesn’t understand that he will pay that new percent on only the amount earned in that range.
2
Posted on 12/21/17 at 12:18 pm to iwasthere
quote:
10% Up to $19,050 | 10% Up to $19,050 12% $19,050-$77,400 | 15% $19,050-$77,400 22% $77,400-$165,000 | 25% $77,400-$156,150
So an example would be, a family making 150k would pay 3 different rates on portions of their income, 10%, 12% and 22%.
This post was edited on 12/21/17 at 12:19 pm
Posted on 12/21/17 at 12:19 pm to The Mick
He will only pay 28/24% on the income in that bracket, not all of his income. Every single bracket he was in would need to drop by 4%, not just the top bracket you are in, to get a total 4% savings. This ignores the whole "is your tax base the same?" side of this as well that is just as important to determining ones effective tax rate.
The fact that people will have
1) strong political opinions on how taxes should work (not saying that is the case with this guy, speaking about something I've observed in general)
2)and, no idea how something as simple as the rate table works
...is somewhat distressing.
TLDR: people fail to under the simplest parts of the tax code
The fact that people will have
1) strong political opinions on how taxes should work (not saying that is the case with this guy, speaking about something I've observed in general)
2)and, no idea how something as simple as the rate table works
...is somewhat distressing.
TLDR: people fail to under the simplest parts of the tax code
This post was edited on 12/21/17 at 12:26 pm
Posted on 12/21/17 at 12:21 pm to iwasthere
quote:Ah, gotcha. I misread his post, I'm clear now.
He is saying the poster doesn’t understand that he will pay that new percent on only the amount earned in that range.
Posted on 12/21/17 at 12:22 pm to Cocotheape
I know what the progressive bracket is I just misread your reply to him. Ignore me, sorry.
Posted on 12/21/17 at 12:24 pm to The Mick
quote:quote:
When people don't understand how the progressive rate table works it always makes a little less hopeful for our society
What do you mean?
The original poster said:
quote:
So I go from paying 28% to 24%! 4% more in my paycheck! MAGA!
That's certainly not going to be the case. Tax brackets apply to various levels of income. For example, using married-filing-jointly numbers:
The 10% bracket will apply to income from $0-19,050
The 12% bracket will apply to income from $19,051-77,400
etc., etc., etc.
If you're in the 24% tax bracket, for instance, that does not mean you're paying 24% of all of your income in taxes. You're actually paying between ~9% and 20%.
If you make $165001, you only pay the 24% rate on the $1.00 above the $165,000 threshold.
Posted on 12/21/17 at 12:26 pm to lnomm34
we know... but thanks for your detailed post
Posted on 12/21/17 at 12:27 pm to The Mick
quote:
we know
It didn't seem clear that you did.
quote:
thanks for your detailed post
You're very welcome, ma'am.
Posted on 12/21/17 at 12:29 pm to lnomm34
quote:That's hurtful.
You're very welcome, ma'am
Posted on 12/21/17 at 12:30 pm to The Mick
quote:quote:
You're very welcome, ma'am
That's hurtful
Is this not you??
Posted on 12/21/17 at 12:36 pm to lnomm34
That's me on the left, but I identify as the young boy on the right.
Posted on 12/21/17 at 12:39 pm to The Mick
Posted on 12/21/17 at 2:35 pm to Centinel
quote:
That's a bunch of words. Try backing them up with numbers. Until then, frick off.
Hey hothead, you are not even going to test this bill out with real numbers until the end of next year. So you can stop shooting your mouth off without any idea how it will actually work for you.
Better yet, show us your actual tax calculation under this bill compared to the actual tax calculations for the last three years so we can verify your diarrhea of the mouth.
Posted on 12/21/17 at 2:36 pm to lnomm34
quote:
Is this not you??
Is that young Mr. Bean in the background?
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