Percentage of: Single Individual
0% $0 - $9,500
13% $9,501 - $35,000
24% $35,001 - $80,000
28% $80,001 - $170,000
35% $170,001 - $367,700
41% $367,701 - $1,000,000
49%* $1,000,001 - $2,500,000
58%* $2,500,001+
Mr President. According to my calculations, each bracket would result in the following.
The 13% bracket is $3,314.87
This means that for your income between $9,501 and $35,000, you'd pay that in taxes.
The 24% bracket is $10,799.76. Combined total being $14,114.63
The 28% bracket is $25,199.72. Combined total being $39,314.35
The 35% bracket is $69,194.65. Combined total being $108,509.00
The 41% bracket is $259,242.59. Combined total being $367,751.59
At 49%, the next bracket would be $734,999.51
At 50% it would be $749,999.50
A surtax on the taxes above $380,000.00 rate of 3.5% would bring the total to $748,047.39
A similar surtax on a 58% rate on incomes up to $10,000,000 would have the following numbers. 60%=$4,499,999.40 --- 58%=$4,439,999.42 --- W/Surtax $4,502,249.40
In addition, a deficit-surtax would be easier to remove, and could be added to the original legislation. I'm curious if you'd support such a move.
