--- Doug Henwood <dhenwood at panix.com> wrote: >
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?
Yeh, I heard him on CNN. It's almost certainly a finagle, and I would imagine that the number $25K has been carefully chosen as the point at which some tax credit begins to get withdrawn -- ie a waitress earning $24,999 would face a considerably lower marginal rate. Really, really grungy stuff -- the sort of thing you don't even expect from Cato.
dd
>
> Doug
===== "Imagine the Duchess's feelings You could have pierced her with swords To find her youngest son liked Lenin And sold the Daily Worker near the House of Lords" -- Noel Coward
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