re: #515 drcordell

Somehow I think those making $250,000 and up got just a BIT more out of those tax cuts than those making less than $50,000.

But the fact that the guy making $35k paid $500 less in taxes while the guy making $35m paid $500,000 less in taxes sounds nice and equivalent when you put it in a single sentence.

It seems to be exactly equivalent - the percentages work out to be exactly the same.

Given the way bracketing and the standard deduction work, however, it isn’t quite that simple. For the guy making $35k, the difference represents a larger percentage of his taxable income than it does for the guy making $35m.