The vice president is rolling out her first revenue-raising policy proposal as the Democratic presidential nominee and drawing a contrast with GOP opponent Donald Trump.
That used to be the case until 2017. Highest bracket was 39%, but they had a weird system where it went UP until about 350Kish, (Income between 100K~350K) and then the variable rate started dropping again for income past that, back down to 35%. Would have been fair to assume any fortune 500 company not doing shady shit would have paid an effective rate of 35%.
Trump’s tax cuts drastically decreased that, down to 21% flat for everyone. 28% would still be a tax cut over what it was up til 2017.
That used to be the case until 2017. Highest bracket was 39%, but they had a weird system where it went UP until about 350Kish, (Income between 100K~350K) and then the variable rate started dropping again for income past that, back down to 35%. Would have been fair to assume any fortune 500 company not doing shady shit would have paid an effective rate of 35%.
Trump’s tax cuts drastically decreased that, down to 21% flat for everyone. 28% would still be a tax cut over what it was up til 2017.