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Reply to "These small “surprise” taxes are so annoying "
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]It’s a way of increasing taxes on the wealthy without changing the basic tax rates. Smoke and mirrors! [/quote] Actually, no. They increase taxes on the middle class, the thresholds are between 200-300k and NOT indexed to inflation. You think a family making 250k in a major city is rich? And in 10 years it’ll be even worse and affect an even greater percentage of the population. [/quote] Not PP, but while true the tax only applies to the income earned beyond the $200/250k thresholds (and this is adjusted income, of course, so the actual earnings will be higher). So over 85% of the tax is being paid by households making more than $500k, almost a third by households making more than $10m. People in the $200-$300k range are paying very little from this. https://crsreports.congress.gov/product/pdf/IF/IF11820[/quote]
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