Re:How the Rich Reap Huge Tax Breaks From Private Nonprofits
by HWR_14 on Sunday July 30, 2023 @09:06AM
(#36930792)
I get that 50% is a nice round number, but what's the moral or reasonable significance of that?
Meanwhile, you're looking at top marginal rates. That's not the total rate. A single person making $500k a year has a total tax rate (federal plus state) of 41%. It gots up to 46% at $1,000,000/yr.
And the rate goes down if they marry, have kids, etc.
Meanwhile, you're looking at top marginal rates. That's not the total rate. A single person making $500k a year has a total tax rate (federal plus state) of 41%. It gots up to 46% at $1,000,000/yr.
And the rate goes down if they marry, have kids, etc.