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Reply #110: You do understand that these are MARGINAL rates, right? [View All]

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Mariana Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-05-11 08:14 PM
Response to Reply #79
110. You do understand that these are MARGINAL rates, right?
No one ever paid 90% on ALL their income. They paid the exact same rates on their first $5,000, $10,000, etc. of taxable income each year that everyone else did. They also had deductions available, if they chose to take advantage of them. No one was penalized for making money, they were penalized for hoarding it.
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