Yes, I would supposes that true, but on the otherhand wages usually increase a couple percent a year too, so the wage increases (if any) probably about cancel out the lower tax?
Expanded Tax Brackets: For married couples, the first $14,000 of income (up from $12,000) is now taxed at 10%, and more people will find themselves in the 15% tax bracket: Married couples who earn $56,800 (up from $47,450) and singles who earn $28,400 or less. These increases will save you $1,000 a year in taxes if you are married with a taxable income above $56,800. Singles with taxable income above $28,400 will save $500 a year.
Lower tax rates: The top four rates have been reduced, retroactive to January 1:
If you were in the 38.6% bracket, you now pay 35%.
If you were in the 35% bracket, you now pay 33%.
If you were in the 30% bracket, you now pay 28%.
If you were in the 27% bracket, you now pay 25%. |
