Quote:
Originally Posted by Goofle
That doesn't justify taking 40% of someone's earnings.
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When taking 40% of someone's money leaves them with millions, I think they'll be alright. Thinking about this in raw percentages doesn't work. Let's take someone making the lower end of the $37,950 to $91,900 bracket. This year, that person owes $5,226.25 (and anything over $37,950 is taxed at 25%), leaving them with about $32,723. On the other end, someone making the low end of the upper bracket ($418,400+) would owe $121,505.25 (anything over begin taxed about 40%). Let's put this firmly in the 1% and say the person made $2 million. That means they owe $517,000...a lot, right? Well, let's compare. The first guy has $32,723 to work with while the other guy has nearly $1.5 million to work with. Who do you think has the raw deal here?