See how tax brackets affect your income tax rate in surprising ways | Just The FAQs

See how tax brackets affect your income tax rate in surprising ways | Just The FAQs 1

 

Why being taxed, say 22% of your income, is a lot more complicated than you may assume. Here's a breakdown of what you actually pay in income taxes.
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Even before the U.S. economy was slammed by a pandemic, the typical American household’s income grew at a slower pace in more than half of the states under Donald Trump than in the years leading up to his presidency, according to a new Capital & Main analysis of U.S. Census data.

Those states include several key battlegrounds, undercutting one of Trump’s central campaign themes: that before COVID-19 his actions led to an economy he has described as "the best it has ever been.”

Pennsylvania saw its typical household’s income growth slow from 6.2% in Obama’s last three years to 4.7% in Trump’s first three years, while median household income growth in Wisconsin declined from 7.1% to 6%.

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4 Comments on "See how tax brackets affect your income tax rate in surprising ways | Just The FAQs"

  1. Bs!!

  2. You’re missing something here buddy. This is income, and doesn’t include capital gains.

    That is the big scam. CEOS bragging about getting a salary of $1 like they are being fortuitous. When they are evading taxes. Paying no payroll tax and using stock option execution manipulation to avoid taxes.

    The other scam is rarely is a salary millions of dollars. If you make that much more than likely you are a company owner or have an equity stake at least; which opens the door to legally evading more taxes as the system is corrupt to the core.

  3. Gaming-King Junior | October 28, 2020 at 8:20 PM | Reply

    first

  4. gabriel hernandez | October 28, 2020 at 9:24 PM | Reply

    Eliminate the IRS! Flat sales tax; the more you spend, the more you pay.

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