Is exploited by the Democrats and allows them to say low wage earners get nothing.
When you think about it, if people in this tax bracket had to pay 0%, they would take a huge hit once they crossed that threshold.
In order to make it fair ... that workers at this low wage pay less taxes, they would have to create about 10 bracket just for $1000 to $10,000 per year earners.
The point is, no matter what the schedule, the moment they cross the taxable threshold they take a giant hit. Like if they made $1-$25,000 0% taxes, and $25k-$50k %10 people would have to be earning 28k just to make as much as they made at $24,999.
They try and solve problems like these with deductions.
You better go back to math class. Only 3000 subject to 10% rate. That amounts to $300.
>>10%- Total yearly income up to $9,525
Is exploited by the Democrats and allows them to say low wage earners get nothing.<<
Then the Democrats are lying, but that’s what they do. No surprise there.
A couple making, for example, $30,000 would see taxable income drop from $8,700 to $6,000 (30,000-24,000 in deductions) and at their 10% rate their taxes would go from $870 to $600, a 31% drop.