Quote:
Originally Posted by idontknow
I also thought those numbers were a little off and noticed Dueller didn't account for even the basic deduction that has also gone up over the years.
AGI minus Standard Deduction of:
Std deductions:
4300(7200 if married) + 2750(*2 if married) in 99
5350(10700 if married) + 3400(*2 if married) in 07
$30K:
in 1999 single tax rate=3446 married tax rate=2599
in 2007 single tax rate=2793 married tax rate =1253
$100K:
1999 single=23601 married=18855
2007 single=19654 married=13466
note: Itemized deductions would throw these figures out the window.
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Idontknow's more accurate analysis shows something that is inescapable....everybody who claims they're paying 30+% in federal income tax are making a whole lot more than $100K or are full of *****....even when you add in ee's share of FICA/medicare its barely over 20% for a couple making $100K.