You know, one thing that I have not heard any info on, maybe you or someone else has, is what about extra income? I mean okay, you say the top tax bracket has a 40%, which I gather you feel is unfair. Well for me, I don't know how much exactly I get taxed for 80 hours worth of work, but when I make overtime, say 40 hours or more, HALF if not MORE is taken from that!!!!! Now that is F'd up. I work my butt off, over my 80 hours and get a broom up my butt. So anyone who makes over 100+ thousand, and millions can stick it if they complain. I know the more money I make the more I don't want to loose too, so i can see both sides, but either way I think just increasing the top 10 percent isn't the only answer. I would say 20-25% tax for a annual income under 200 thousand, then jump it up to 35% for over. And just tax extra income at the same amount, be it overtime/bonus's..
Now that I think about it, Urby, you're correct. Think about when you do your taxes at the end of the year. You don't record regular pay separately from overtime pay. You simply record your pay. Therefore, if it is unfairly taxed at a higher rate, you get that back in your refund. Bonus income, however, is (I believe) taxed at a higher rate as it falls under a separate category of income.
Urby, what you said makes sense, though if it was the case I would have got well over 3 grand back from my taxes last year, but no... So therefore I would think your wrong, or at least you could be right and I'm missing something in the filing process.
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