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The Water Cooler
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It’s almost a free for all- thanks republicans
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<blockquote data-quote="inactive" data-source="post: 3339263" data-attributes="member: 7488"><p>It can’t though. The tax rate on income is on the chunk of income in that bracket. Anything you earn less than that (so before the stimulus) is taxed at the lowest brackets’ rates. Said in a different way, only additional income in a new income bracket is taxed at higher rates. You don’t take home less after taxes because your income goes up, ceteris paribus.</p></blockquote><p></p>
[QUOTE="inactive, post: 3339263, member: 7488"] It can’t though. The tax rate on income is on the chunk of income in that bracket. Anything you earn less than that (so before the stimulus) is taxed at the lowest brackets’ rates. Said in a different way, only additional income in a new income bracket is taxed at higher rates. You don’t take home less after taxes because your income goes up, ceteris paribus. [/QUOTE]
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It’s almost a free for all- thanks republicans
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