Twenty-five percent tax on income over $66,000? Property taxes of $6000 on an average home? You're doing the leftists work for them.
The posted schedule was simply for explanation of the terms ‘rate’ and ‘rate threshold’.
In the age of TurboTax, millions of people have never seen a tax rate schedule.
The rates that the amendments would be based on would be the so-called ‘Trump’ tax rates that were law as of January 1, 2019, as stated near the top of my posting.
I am proposing caps on tax rates.
Right now, there are no constitutional limits on income tax rates. If a Democratic Congress wants 70% of your income, it can levy a 70% rate on your income.
I don’t have the Internet at home, so I had to make up a schedule instead of downloading the lastest IRS schedule.
“Twenty-five percent tax on income over $66,000? Property taxes of $6000 on an average home? You’re doing the leftists work for them.”
It’s at least 22% now for single filers.
My guess was 3% (25% vs. 22%) off.
Are the feathers on hand and the tar hot?
A 2,200 square foot home is considerably above average in size. On my street, most homes are about 1,000 square feet,+-200 square feet.
A 2,200 square foot home in my area of Florida without water frontage would have an average tax of around $3,500 if bought recently and would continue to have such a tax.
A federal constitutional cap on real property taxation has to be set a level that only forces a few states to have make adjustments.
New York State would have to share income tax revenue more fairly with Metro NYC school districts.