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Senate Republicans Cave on Fiscal Cliff

45
stabby1/01/2013 11:39:28 am PST

re: #38 lawhawk

That increase affects only dollars over the $400/$450k top bracket. Amounts under that amount are subject to the lower bracket rates.

Say you make $500k as a married couple. The first $450k is subject to the lower bracket rates and only the remaining $50k above $450 is subject to the new higher rate. It’s a 4.6% hike on income above $450.

That’s not much more than a symbolic hike.

Jesus