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Reply to "How many people here understand what taxable income is and how marginal tax rates work?"
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[quote=Anonymous]I am getting the distinct feeling by reading these threads that very few people do. I am assuming the rest of America understands even less, and that is a scary, scary thought. I keep hearing people scream that they make $250K per year and Obama is going to raise their taxes. First, unless you have zero pre-tax withholdings, zero insurance premiums, and zero deductions, adjustments or exemptions (which is impossible), your taxes will not increase. Second, unless you are well above the $250K mark, the tax increase is pretty negligible.[/quote]
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