re: #584 Aceofwhat?

say what???

It’s actually not a higher percentage. It’s a higher-impact rate.

For example, if you earn 10,000 dollars and are taxed at 10%, your tax is $1000, leaving you 9,000 to live on.

If you earn one million dollars and you are taxed at 45%, that still leaves you 550,000 to live on.

It’s effectively more painful for lower-income people.

Also, people with 10,000 incomes are far less likely to have any tax breaks at all, with the exception of either EIC or dependent-care credits, which means that the EFFECTIVE tax rate of wealthy Americans is lower than the stated rate, and occasionally lower than the lowest-tier tax rate.