Friday, December 10, 2010

A reminder about your taxes

• The tax rates you're paying are NOT 10%, 15% ... 35%
• they ARE 15.3%, 25.3%, 30.3% ... 35%
• your government taxes the first dollar you make at 15.3%, and adds 15.3% to every tax bracket until you make $106,000
• UNLESS YOU'RE A CONGRESSMAN
It all goes out of your pocket into the same bucket, and funds the same wars.

To check YOUR true marginal rate, add $100 to the "Other Income" line on your tax form and compare the result with your original calculation. The increase in total tax is your true marginal rate.

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