Incorrect. You’d only have to pay the tax on the amount that puts you into the tax bracket.
“Incorrect. You’d only have to pay the tax on the amount that puts you into the tax bracket.”
I hope you are right. Now, the present tax chart isn’t like what you say. There are brackets that have, “x” amount of tax up to an amount, and the next bracket has more “x” amount of tax for one dollar over that amount of the last bracket.
For example: Say there is a $10 tax up to $50, but if you make $51, that puts you in the next bracket which is $15. That one dollar costs you $5 more in tax. That is the way it is now.