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Reply to "My household gross income is 105K. What is the next tax bracket?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Ugh this is painful OP. [/quote] +1. So painful that someone making over 100K a year has literally no idea how basic taxes work.[/quote] I work in engineering. We're supposed to be smart, math-savvy people, right? I once had a colleague tell me that his wife stopped working because her job pushed their whole household into a higher tax bracket, so they actually made less money if she worked. ??????[/quote] Unfortunately, this is not as rare as it should be. There are many people who don't understand the marginal rates and think that their full income is subject to the highest tax bracket that they qualify for. What's amazing to me is that many of the people who believe this are in the top 3 tax brackets. How does someone with that little basic education (or ability to figure it out via Google) make that kind of money? [/quote]
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