Monthly Archives: December 2010

Federal tax brackets and you

The Federal government of the USA decides how to impose taxes on all of us and the Federal tax brackets we all fall under. States and municipalities can also set tax rates and all of this is done in a progressive manner, which is to say that the higher your income levels, the more you are taxed. Therefore, as you earn more you will be taxed more. There are those that clamor for a flat tax system, but that is not the case as of now. Federal tax brackets tax disposable incomes in a sequentially progressive manner.

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