So.... wait, they’re increasing taxes on those in poverty? And then reducing them for people that make 3-10 times as much? Am I reading this chart right guys?
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Yes you are.
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While the lowest income rate would increase, typical families in the existing 10 percent bracket would most likely be better off because
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of a larger child tax credit and an increase in the standard deduction. The full effects of the plan on different groups has not yet been
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The full effects of the plan on different groups has not yet been analyzed by experts.
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You don't need experts. You just need excel. Everyone under $81,500 is worse off.
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Hmmm, sounds like a big chunk of the country again...
End of conversation
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And now, an important reminder from the President:
pic.twitter.com/mONMFIaX5AThanks. Twitter will use this to make your timeline better. UndoUndo
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Still way too high. If you make $250K/ year the gov is not entitled to 35% of it. Everyone should pay the same rate, regardless of income!!
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Crazy. taxing $250k at the same rate as $1M. 250k is middle class where I live!
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250k is below poverty line in Asian community at Bay Area as I know.
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So if I make $0 a year I still get taxed 12%? Damn, GOP are just brutal.
Thanks. Twitter will use this to make your timeline better. UndoUndo
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Shouldn't the tweeted chart show that those earning $480,051 - $1M see their rate drop from 39.6% to 35%?
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It does say this. Look again. That bracket doesn't exist anymore.
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I get that, but there should be a downward red line from left to right columns showing what the impact of new brackets on that cohort...
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...flat red line from left implies all above $480,050 are moving to new 39.6% bracket.
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You are right. That first line is misplaced
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Nice, Just noticed though there is still a piece missing. Those making 237,950 to 260,000 are being taxed less. 33% to 25%.
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...and those making 77,400 to 90,000 are doing from 25% to 12%
End of conversation
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