My local Seattle news just reported that the 25% rate Trump paid is “much less” than many people who earn far less pay..... they had to twist themselves up bigly to come up with a negative spin!
The median income in the US is $37,850.
A single person doesn't hit the 25% bracket until $37,650
A married couple doesn't hit it until $75,301
Factor in the personal exemption of $4050, and the standard deduction of $6300, that's $10,350.
That means a single person would have to make at least $48,001 before they even begin to touch the 25%. That's the upper 38.8%
Now, that person would pay a total of $5184
Just 10.8% of their income.
It would take an income for a single person, of $248,573, to pay 25% of their income, using the standard deduction and personal exemption.
Putting that person in the UPPER 98.5%
A married couple would have to make $96,051 before they even get to the 25% bracket.
It would take a married couple an income of $363,500, just using standard deductions to pay 25% of their income.