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General Discussion

Bozita

(26,955 posts) Tue Oct 2, 2012, 01:23 AM Oct 2012

3

Big Ed had a radio caller today

Said he made $265,000 last year, had 3/4 kids in college, and couldn't afford a 3.5% tax hike.

Caller thought the tax hike would be on the entire $265k.

Ed tried to explain to him that his tax increase would be based on his earnings ABOVE $250,000.

Caller's tax increase would be $15,000 times 0.035 equals $525.

Ten bucks a week!

Just how fucking hard is this to understand?

Sounds to me like it's time for a teachable moment.

1 replies

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Big Ed had a radio caller today (Original Post) Bozita Oct 2012 OP

An awful lot of people don't seem to understand The Velveteen Ocelot Oct 2012 #1

The Velveteen Ocelot

(115,735 posts)

1. An awful lot of people don't seem to understand

Reply to Bozita (Original post)

Tue Oct 2, 2012, 01:25 AM

Oct 2012

the concept of marginal tax rates. And that appears to include members of the media.

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