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LiberalFighter Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-20-11 11:57 AM
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Current Tax Rates and Differences
This is just for those married and filing jointly

10% -- From 0 to $17,000
15% -- From $17,001 to $69,000
25% -- From $69,001 to $139,350
28% -- From $139,351 to $212,300
33% -- From $212,301 to $379,150
35% -- Everything over $379,150

Amount of income within each tax bracket
10% -- $17,000
15% -- $52,000
25% -- $70,350
28% -- $72,950
33% -- $166,850
35% -- $billions and $billions (this is the amount over $379,150)

Increase from tax rate to tax rate

0 to 10% ---- 10%
10% to 15% --- 5%
15% to 25% -- 10%
25% to 28% --- 3%
28% to 33% --- 5%
33% to 35% --- 2%


NOTE:
Everyone regardless of income that is married and filing jointly has the first $17,000 of taxable income taxed at 10%. That includes scumbags like Rush Limbaugh.

Everyone regardless of income that is married and filing jointly has the next $52,000 of taxable income taxed at 15%. That includes scumbags like Bill O'Reilly.

Limbaugh and O'Reilly of course receive wages and other corrupt income in the millions. Their top tax rate is 35%. But only the taxable income that is over $379,150 is taxed at the 35% rate. The income below that $379,150 is taxed at different rates. That is plural. Their effective tax rate will be below 35% because in addition to their income not being taxed all at the same rate they more than likely have more than $64,000 in itemized deductions in addition to any personal exemptions they may claim.

A single person with about $38,000 of income using the standard deduction would have an effective tax rate of about 10.25% even though the last dollar is taxed at 15%.
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