{"id":2049,"date":"2019-01-10T11:59:43","date_gmt":"2019-01-10T16:59:43","guid":{"rendered":"https:\/\/www.davideriknelson.com\/sbsb\/?p=2049"},"modified":"2019-01-09T18:28:49","modified_gmt":"2019-01-09T23:28:49","slug":"understanding-marginal-tax-brackets","status":"publish","type":"post","link":"https:\/\/www.davideriknelson.com\/sbsb\/index.php\/2019\/01\/understanding-marginal-tax-brackets\/","title":{"rendered":"Are you a grown-up American? Do you vote? Then plz take three minutes to get yr head around \u201cmarginal tax brackets\u201d🇺🇸🌟"},"content":{"rendered":"

\"WaPo-wrong-on-tax-brackets2\"<\/a>About half of all Americans fundamentally misunderstand how U.S. \u201ctax brackets\u201d work.\u00a0 <\/span>(Ironically, those in the traditionally \u201cfiscally conservative\u201d party are significantly more likely to fundamental misunderstand our tax system.)\u00a0 <\/span>As a result, many, many, many Americans argue and vote against both public interest and their own interest, with the sole beneficiaries being the extremely rich (both human and corporate).<\/p>\n

Now\u2019s the time to get your head straight.\u00a0 <\/span>The Twitter thread<\/span><\/a> embedded below lays it out nicely, as does this article from the Washington Post<\/i><\/span><\/a> (which takes just three minutes to read, and even explains why<\/em> we use this\u00a0somewhat counter-intuitive and often confusing tax bracket scheme).<\/p>\n

This is your Civics homework for today.\u00a0 <\/span>It\u2019s pretty easy.\u00a0 <\/span>I\u2019m sure you\u2019ll get\u00a0a gold star!🌟<\/p>\n

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Post WWII, the tax rate peaked at 94% on annual income over $200,000 ($3mil in 2018 dollars). In the decades following, it dropped to a marginal tax rate of 70% of all income over 200k\/annually (again, 2-3mil in today\u2019s dollars, depending on year).<\/p>\n

\u2014 Dianna E. Anderson 🏳\ufe0f\u200d🌈 (@diannaeanderson) January 5, 2019<\/a><\/p><\/blockquote>\n