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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Road Walker who wrote (196349)	7/30/2004 7:51:24 PM
From: Tenchusatsu	Respond to of 1571785

JF, That doesn't sound like "no division... a smooth curve" to me? Am I missing something? Clue me in here. In our current tax bracket system, if I earn one dollar above a certain cut-off line for a bracket, does that mean my entire income is automatically taxed at the higher rate? The "smooth curve" I'm talking about is based on the fact that no dollar below the $50K line is taxed. Say that rate is 25%, for example. Someone making $51K will be paying 25% of $1K, or $250. That means his effective tax rate is less than 0.5%. Another making $80K will be paying 25% of $30K, or $7,500. That means her effective tax rate is 9.4%. The more you earn, the higher your effective tax rate is, up to a limit of 25%. That means anyone earning $50K or less will pay no taxes, which is about the best kind of "handout" you can give to the average working American. And if you're worried that the rich are still getting a tax cut, offset it with fewer tax breaks, such as for 2nd homes, etc. Tenchusatsu