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Jan Schakowsky Introduces Bill To Raise Taxes For Wealthiest Americans

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Jan Schakowsky Introduces Bill To Raise Taxes For Wealthiest Americans

Post by Quiethawk on Wed Mar 16, 2011 3:51 pm

This seems so fair, so of course it will never see the light of day.

http://www.huffingtonpost.com/2011/03/16/jan-schakowsky-income-tax_n_836624.html
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Quiethawk
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Re: Jan Schakowsky Introduces Bill To Raise Taxes For Wealthiest Americans

Post by JaneWI on Wed Mar 16, 2011 4:30 pm

Am I understanding this correctly? Let's say a person earns $373,651 in a year they are taxed at 35% for $1?

"Currently, the top marginal tax rate of 35 percent applies to income starting at $373,650, and the tax code fails to distinguish between earners making a few hundred thousand dollars a year and those making a few hundred million dollars a year."
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