Comment Re:But tax brackets don't work like that... (Score 1) 617
Not true.
The tax brackets are not a straight percentage of what you earn.
The guy who is making $28000 a year really pays 10% of the first $7,550 + 15% of the amount between $7,550 and $28,000 for a total of $3822.
The guy making $32000 pays 10% of the first $7,550 + 15% of the amount between $7,550 and $30,650 + 25% of the amount between $30,650 and $32,000 and for a total of $4557.
(Note: numbers have been rounded to the dollar)
The tax brackets are not a straight percentage of what you earn.
The guy who is making $28000 a year really pays 10% of the first $7,550 + 15% of the amount between $7,550 and $28,000 for a total of $3822.
The guy making $32000 pays 10% of the first $7,550 + 15% of the amount between $7,550 and $30,650 + 25% of the amount between $30,650 and $32,000 and for a total of $4557.
(Note: numbers have been rounded to the dollar)
