Rich are not in the highest tax bracket. Middle class is, up to low 80Ks, until FICA finally expires.
Why do you feel compelled to make stuff up, Lizzie?
The highest federal tax bracket is 35 percent. At the point where FICA expires, the tax bracket (combined federal and FICA) for a single person is 34.2 percent and the tax bracket for a married person is 31.2 percent if the spouse makes nothing or a minimal amount, and as high as 34.2 percent if the spouse makes the FICA maximum. At no point is the FICA/federal tax rate combined for a person making up to the FICA maximum as high as the rate for high income persons. The best you can come up with is that FICA's abrupt expiration does create some situations where people right at the FICA maximum pay a higher marginal rate than people making somewhat more. But never does it create a situation where the middle class is paying the highest tax rate, as you falsely asserted.
Here are the actual numbers (something you never post unless you're announcing that you are ignoring them because your own anecdotal information is superior):
Joint return Single taxpayer Rate
$0–$14,000 $0–$7,000 10.0%
14,000–56,800 7,000–28,400 15.0
56,800–114,650 28,400–68,800 25.0
114,650 –174,700 68,800–143,500 28.0
174,700–311,950 143,500–311,950 33.0
311,950 and up 311,950 and up 35.0 |
