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here is a link to the 1954 tax code and rates
http://en.wikipedia.org/wiki/Internal_Revenue_Code
here is a link to the 1954 tax code and rates
http://en.wikipedia.org/wiki/Internal_Revenue_Code
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worst explanation ever
i'm an accountant and it took me a minute to figure out what you were trying to say
lmao
I understood right away. Maybe you have to be ignorant to understand ignorant?
Now who's too ignorant to be to able recognize/understand the proper usage of the word ignorant?
Great explanation. And I agree about the refunds too.the tax rate only applies to the income in that bracket, and the income is generally based on adjusted gross, not gross per say.
so if you made $3000, $2000 would be taxed at 20%, and $1000 would be taxed at 22%
if you made over $200k, only the income over $200k is taxed at 91%, and everything below is taxed according to its bracket
this is known as a progressive tax, aka tax bracket system or ladder tax, as oppossed to say a flat tax where everyone would pay the same percentage of their money.
i would consider a flat tax to be the most fair by the basic principle of the word, you make $10 or $10k you still pay 10%, but then everyone bitches because the $1 for someone who makes $10 is considered a heavier burden than $1000 for someone who makes 10k, because the person who made 10 only has 9 left, while the person who made 10k, still has $9000 left.
today if you made $3000, paid in no federal tax, and had a kid, you'd probably get back about $7000 of money (from people that pay taxes... just sayin)
if you get back more of a refund, than you even paid in.... there is something wrong
I have no problem with taxes on luxury items.
ie - cigarettes
apparently you think the gov't knows better what to do with your money than you do
I don't even smoke but i think if you're going to tax an item a certain way, then tax all items a certain way
$50 jeans or $100 shoes are a luxury, you don't see them getting an additional 50% value added tax