Re:How the Maker of TurboTax Fought Free, Simple Tax Filing ...
by koolba on Friday March 15, 2019 @11:33PM
(#19406223)
A 90% federal bracket, combined with 10+% State tax (ex: 12.3% top bracket in CA), combined with no deduction for State and local taxes (because only standard deduction right?), would mean you’d literally lose money by making more money.
[ Parent
| on HN ]
Re:How the Maker of TurboTax Fought Free, Simple Tax Filing ...
by isoskeles on Friday March 15, 2019 @11:35PM
(#19406228)
Don't forget an extra 3.8% Medicare tax.
Re:How the Maker of TurboTax Fought Free, Simple Tax Filing ...
by koolba on Friday March 15, 2019 @11:41PM
(#19406245)
“Why you’d quit?”
“I couldn’t afford not to!”
Re:How the Maker of TurboTax Fought Free, Simple Tax Filing ...
by mcny on Saturday March 16, 2019 @01:27AM
(#19406490)
» “I couldn’t afford not to!”
States will adjust their income tax brackets if we make taxes at the federal level reasonable. Perhaps, reasonable people will prevail and it well end state and local income taxes (and increase property taxes to a reasonable level instead).