Bill Clinton Scandal - SANITY CHECK Message Board

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Politics : Bill Clinton Scandal - SANITY CHECK

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To: Les H who wrote (12374)	11/2/1998 5:09:00 PM
From: Peter O'Brien	Read Replies (1) of 67261

Marginal rates are also effectively much higher than advertised... This is something you rarely see discussed, but it's true due to various "phaseouts" littered throughout the tax code, e.g., phaseout of personal exemptions (hits big families particularly hard) phaseout of itemized deductions phaseout of Roth IRA eligibility phaseout of 401K contributions for "highly compensated" employees I think I could construct examples where an employee's effective marginal rate is >100% if he/she is currently earning slightly below some of these phaseout levels. In that case, he/she would literally be better off declining their next raise! I suppose the Democrats think this is "fair"?

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