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0 pointsdefrost2y ago0 comments

Both state and federal are progressive tax brackets and the 50.3% tax rate is only paid on dollars earnt over a threshold.

https://youtu.be/4PJfDNfg5KI?t=77

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fragmede2y ago

Yes, that's correct. If I did my math correctly, if you made $4 million, you'd end up with $2,052,391.57, which is an overall rate of 48.69%, for those that don't understand progressive tax rates.

fragmede2y ago

(For someone who's single; unmarried)

j / k navigate · click thread line to collapse

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fragmede2y ago

Yes, that's correct. If I did my math correctly, if you made $4 million, you'd end up with $2,052,391.57, which is an overall rate of 48.69%, for those that don't understand progressive tax rates.

fragmede2y ago

(For someone who's single; unmarried)

j / k navigate · click thread line to collapse