Just thinking you might be interested in this b/c of your political interests. I do a lot of internet research about the deficit/debt because I'm kind of a finance nerd.Thanks for the links and info, Cody!
Anyway, using these two sites, you can see what our personal tax brackets have been and would be nowadays.
http://www.taxfoundation.org/publications/show/151.html
http://www.measuringworth.com/ppowerus/
Using the first site, you can see a history of tax brackets going back to the beginning of the income tax. Using the second, you can plug in the numbers from earlier years to see what the current brackets should be, if we used the same rates.
Using 1964 as an example, you can see that a couple in that year who made $9,000 was taxed at 23.5%, but in 2011 that salary is worth $62,000 and will be taxed 15%. A couple that made $400,000 was taxed at 77%, which is equivalent to $2.7 million today, but our top rate is 35%.
Just thought you might like checking that out.
Wednesday, May 4, 2011
Taxes, Then and Now
A lot going on, and not a lot of time to blog, so I'm reprising a note I got from a friend that I found to be fascinating.
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These links provide useful tax information. I hope to see more of these resources on other legal websites.
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These are all great links that gives people an overview of the tax system implemented.
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This is much appreciated. These tax resources are very helpful for us to be informed in this matter.
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This tax bracket would be helpful especially to those new start-up businesses. Thanks for sharing these resources.
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Thanks for sharing these taxes bracket. This is very useful especially those people that have been experiencing taxes problem.
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Great post to educate everyone about taxes. Eventually, everyone will be responsible in paying their taxes, so it'll be a good idea for everyone to have an idea on what it is.
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Couldn't have said it better myself...
It's well known the taxes in California and Illinois are generally ridiculous, so in order to maintain overall tax rates from escalating, the two of these states appear to be within a battle over who exactly can enforce the silliest tax laws to the oddest goods. And that is how we get a candy tax! The only real reasonable strategy to make up the income is to enforce a sweets tax. Listen up taxpayers; specified goodies will be subject to sales tax while others are perceived as "nutritional." Learn how these particular states identify Americans' most liked sweet goodies. http://www.tax-defense-network-tax-laws.com/tax-defense-network-fruits-candy-blueberry-taxed/
Thank you Caroline for providing http://www.tax-defense-network-tax-laws.com/tax-defense-network-fruits-candy-blueberry-taxed/. I checked out that site for my tax preparation.
The Internal Revenue Service does not end collecting from you until it gets just about everything it can, or perhaps it finds itself running short on time. However, countless taxpayers with debt with the Internal Revenue Service don't know a levy can extend to Social Security, retirement benefits, winnings, and other numerous sources of earnings. Identify the revenue sources that the Internal Revenue Service can reach at http://www.tax-defense-network-cpnotices.com/cp-notice/notice-of-levy/
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