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What should the top tax bracket be?
(The top tax bracket is 39.6percentt).
The tax bracket will be 100%.
The Kennedy-Johnson tax bill in 1964 cut all tax brackets, including the top tax bracket.
That is when people move into a higher tax bracket.
"I was in the highest tax bracket," he said.
Several would remain in the top tax bracket afterwards.
Suppose you are a year from retirement, you are in a 40percentt marginal tax bracket now, and expect to be in that tax bracket after you retire.
Bracket creep occurs when due to a wage rise you move into a higher tax bracket.
The bill would also gradually increase the amount of income covered by the 15percenttaxax bracket, the lowest of the five tax brackets.
MileLogr says that could result in a tax savings of $2,747.25, assuming a 33 percent tax bracket.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com