Can someone explain some basic math to me here. Why is my tax bracket 28% while the POTUS who had income of $1.7MILLION only paid 26%?
I don't mean to sound 'elementary' in my thinking; but something doesn't seem right about that. Especially when the 2011 IRS Tax Bracket says that anyone making over $349K is supposed to pay 35%. What am I missing here?
Yeah, I get that his 26% us actually more dollars than my 28% - but isn't fair fair? That's nearly $155K that our government didn't get from him that they should have gotten. They got all of my share, why not all of his?
Is this what the real truth is about people who make a million or more? And if it is, no wonder they want more money from me, cuz me and other people in my bracket are making up for what they don't pay in. I mean it would take 5 or 6 families paying in just to cover what he didn't pay. And that's not fair. We're already paying for all food, lodging and travel for his entire family. (And this goes for ANY president)
Asked by Anonymous at 7:26 PM on Apr. 18, 2011 in Money & Work
Answer by Anonymous at 7:29 PM on Apr. 18, 2011
Answer by Mel30248 at 7:43 PM on Apr. 18, 2011
Answer by samurai_chica at 7:45 PM on Apr. 18, 2011
Answer by Mel30248 at 7:45 PM on Apr. 18, 2011
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