General statistics
List of Youtube channels
Youtube commenter search
Distinguished comments
About
George H
The Majority Report w/ Sam Seder
comments
Comments by "George H" (@georgeh6856) on "Florida Dem Exposes Republican BS" video.
One clarification. A program which gets cut off say at $50K income is not at all the same as higher tax brackets. This is due to marginal tax rates. When you go up to the next higher tax bracket, only the income you make into that higher tax bracket gets taxed at the higher rate. So you would never have a lower net income by moving up to a higher tax bracket just from the higher tax rate in that bracket by itself. E.g. suppose you are single and make $47K at the 22% tax bracket but then get a raise up to $57K which puts you into the 24% bracket. Only the income above $47,150 gets taxed at the 24% rate. The rest of it gets taxed at the lower bracket rates.
18