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ThePanoptic t1_iv98m9k wrote

19% tax rate? That's lower than most middle-lower class families...

Why are our tax laws backward?

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75_mph t1_iv9r7o3 wrote

What are you talking about? Most middle-lower class families have a tax rate in the single digits.

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ThePanoptic t1_iv9tq7y wrote

current tax code:

22% on income between $41,776 and $89,075 which is the lower-middle class in most states.

24% for upper-middle class between $89,076 and $170,050

I understand that it’s a progressive tax rate and only dollars above this range are taxed at this rate, but it’s still criminal that corporations are keeping records profits at lower than the rate for an average individuals tax bracket.

Families might get deductions/rebates, but this is the standard for individuals within this tax bracket. Lower than a multibillion dollar corporation.

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[deleted] t1_iv9rfpe wrote

It’s not. 19% is much higher than middle class people pay

Also, corporate rates are calculated differently than individuals, it’s hard to compare the two

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ThePanoptic t1_iv9tvin wrote

I understand that corporate rate are calculated differently but the bottom line is that 19% of their profits are lost to tax, while an individual making $41,776 - 89,075, will lose 22% of that bracket income to tax. Corporations should at least have a higher bracket at the top, especially when tens of billions are the profit margins.

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