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Originally Posted by Ab
That's my point. It is retarded. There's no reason for having the top tax rate start down that low unless you were trying to squeeze the middle class for every cent you can get.
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The effective rate on $70k is only 20%, so things could be much worse.
Income Distribution shows that many more people earn less than $70k (~1.7M) than those who earn more (~700k).
If $94k was the new boundary, ~300k people [who are already above average earners] would be better off by up to about $14/week (depending on where they sit in the bracket).
When things are so bad that $10/week on a $1000/week income changes your life, I think it is safe to say it is not the tax bracket that is the problem.