more tax cut questions- bush speech

Doug Henwood dhenwood at panix.com
Wed Feb 28 06:39:29 PST 2001


Leslilake1 at aol.com wrote:


>bush tonight says a waitress with two kids making $25,000 - if she tries to
>better her situation, every dollar she makes over $25,000 is taxed at 50% -
>sending the awful message - "you can't get ahead."
>
>can this be true?

No. No one is in a 50% federal tax bracket. The highest marginal rate is 39%, and that's well beyond the point where you pay SS taxes. Did he really say that?

Doug



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