The Republican Civil War...by a Black Republican

[drray23]

16. i agree with your premise

However I suspect your numbers are off. I too am in the 28 % tax bracket (we make around 160K combined which just puts us above the 151K threshold for the 28% bracket). However, my effective tax rate is closer to 19%. Remember, you only pay the percentage in each bracket that is filled up. So, if you just make it to 28 % tax bracket, its only going to affect whats over that threshold.

Regarding the post you were replying to, this man is in thhe highest bracket (39.6%) and mainly paid in salary or such. The very rich have most of their income in investments which are taxed at 15% hence the low taxes..

source:

http://www.irs.com/articles/2014-federal-tax-rates-personal-exemptions-and-standard-deductions


So, from the link above $700,000 would make him pay:

$127962.50 + 39.6*(700000-457601)/100=195834 or so close to the 200K as stated in the post above with an effective 28% tax rate.


For your case of 200K, that would be 28925+0.28*(200000-148850)=43K or around 21% effective tax and thats with standard deductions.