re: Special Session: Black Caucus issues an ultimatum to increase income tax

And here I thought black people had no voice and were oppressed. Sounds like they have plenty power. They even have their own club in the legislature just for them.

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So those that make more than 50k are not impacted?

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Wrong

They'd be taxed at 6% on a larger portion of their income

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So... they essentially want to raise taxes on people making between $25K and $50K?

Okay?

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It would affect anyone above 25K

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So those that make more than 50k are not impacted?

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Anyone that has taxable income higher than $25k would be impacted. You'd pay a higher effective rate on the same amount of income than you do now.

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That’s exactly what it says. Where is he wrong?

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Right now your first $12,500 is taxed at 2%, your next $37,500 at 4%, and anything beyond that at 6%.

Now, you'd be paying 4% instead of 2% on your earnings from $12,500 to $25,000, and 6% on your earnings from $25,000-$50,000 instead of the 4% you were paying.

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These people are painfully retarded.

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As well as several of the people in this thread who can't comprehend how taxes work

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I know math can be hard. Try again.

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How it reads is:

Currently, people between $25K and $50K are taxed at 4%.

Proposed, people between $25K and $50K (and up) will be taxed at 6%.

Looking at it more, I realize that it's only that segment of their income taxed at that rate, not all of their income.

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As well as several of the people in this thread who can't comprehend how taxes work

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Very true

people in this thread REALLY struggling to comprehend progressive tax rates...

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The Black caucus is such a fricking joke

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The dumbest of the dumb