Replies to post #87739 on Politics and Money

[n4807g]

So are you implying that everyone pays the last marginal bracket, except the wealthiest? Yes...people are actually taxed on their adjusted gross income.

"hint: Adjusted gross income (AGI) is figured by subtracting all deductions from lines 23 through 33 of Form 1040 from your total income."

LOL...yes

Would you like me to post the graph showing what each tax bracket contributes in absolute terms to the annual federal income tax collected? From memory 74% of the entire income tax collected is the top 10%..or maybe 5%.

Here we go with the payroll tax addition. Maybe you can post the other side of the payroll tax debate; the payout by bracket. Yeah, the payout is regressive....Ooooo who would've known!