The GOP tax bill would collapse the current seven individual tax brackets into four: 12%, 25%, 35% and 39.6%. http://on.wsj.com/2zrtOQ6 pic.twitter.com/1jRiOhQwTx
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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
Keep in mind, w/ double std. ded. to $12K/$24K, there's basically a 5th bracket of 0% up to those amounts.
WSJ should just admit they are a pathetic shill for the worst government in American history. You do understand you'll go down too?
This graph is misleading and not consistent at all.
Oh look, zero tax cut for middle percentile of earners and effectively no tax cut for bottom percentile of earners
You have to make 500k to pay 39%??? Seriously?!?!
This is outrageous bullshit
higher taxes for everyone....except the rich. here is all our moneys The Rich
"Collapse" is the operative word here. Non-existent tax breaks for middle class will collapse our fragile economy and create more disparity.
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