For individuals, those break points are $45,000, $200,000 and $500,000. http://on.wsj.com/2A0cIoQ pic.twitter.com/INfSdbIvVU
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For individuals, those break points are $45,000, $200,000 and $500,000. http://on.wsj.com/2A0cIoQ pic.twitter.com/INfSdbIvVU
For married couples, the 25% rate starts at $90,000, the 35% rate starts at $260,000 and the top rate starts at $1 million.pic.twitter.com/AIDOgJpuFl
The new bottom tax rate covers more income than current 10% and 15% brackets do, meaning lower taxes for many middle-income households.
Many upper-income households could face a higher marginal tax rate under the bill, which pushes some from a 33% bracket into 35%.
You can follow our live coverage of the GOP tax bill here:http://on.wsj.com/2zr5D4n
Technically, you can’t really tax companies, only people that work there and get salary/wage/whatever or those people that own the company.
Corporate profits belong to the owners and are either drawn as dividends or used to increase profits in the future.
Appears taxes go down for two lowest brackets and pretty much stays same for top brackets.
Gay. Should be a 10% flat tax on every individual and corporation. A real 10%, though, no cheating.
People should also realize that they will pay a higher tax rate if their income exceeds a certain level. This plan is smoke & mirrors!
As long as one's "income" is taxed, taxes will NEVER be fair. "Income" tax must be abolished and replaced with a consumption only.
This IS a tax INCREASE for Middle Class Americans as it currented proposed....
Easy to understand graph. Thanks!
.@SpeakerRyan but the GOP plan eliminates AMT and estate tax (currently, estate value > $5.49M is taxable) big cut to the upper class
Most of us will stay right where we are 25%. Hell of a price to pay to make rich people richer.
This tax bill is ridiculous... Its a tax giveaway for the wealthy! If ur lucky, ur taxes may be $100 less per month unless ur a millionaire.
How are they paying for it? GOP, Answer that question, the deficit matters! #NoCutsForTheRich #TrumpTaxScam
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