GOP Tax Plan Lowers Top Rate To 25%
Tax brackets would go from 7 to 2. a 10% bracket up to 75k married, filing jointly then a 25% tax rate up to $450K. an additional surcharge of 10% added for the "super rich"
It's kind of a redd herring. Once you are up to that level, people can figure out how to structure their pay to stay under the threshold. It will hit some high earners-mostly joint filers who are high level employees. It's still a sloppy second to flat tax. The GOP is worried that people find their deductions "popular." what nonsense. People would like something simple and done in ten seconds and the rate low. Tax preparation business in the US and compliance is outrageous! See here another link:
http://mercatus.org/publication/hidden-c...
It's kind of a redd herring. Once you are up to that level, people can figure out how to structure their pay to stay under the threshold. It will hit some high earners-mostly joint filers who are high level employees. It's still a sloppy second to flat tax. The GOP is worried that people find their deductions "popular." what nonsense. People would like something simple and done in ten seconds and the rate low. Tax preparation business in the US and compliance is outrageous! See here another link:
http://mercatus.org/publication/hidden-c...
All Comments
- 1Posted by khalling 11 years, 9 months ago in reply to this comment.yep| Permalink
- 2Posted by straightlinelogic 11 years, 9 months agoYou know what would happen with this. If it was passed, the top rate would be lowered for a year or two, then jacked right back up, and the so-called surtax would be forever. You can't be too cynical about government.| Permalink
