Tax Rates Reflect Well Being: Difference between revisions

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Latest revision as of 07:03, 4 March 2025

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Remember, a personal exemption of $3650 is not deducted on tax but on your taxable income. Say for example your filing status is 'married filing jointly' with original taxable income of $100,000. This forces you to under the marginal tax rate of 25%. So the money you can lay aside on personal exemption is $912.50 (calculation is simple: $3650 multiplied by 25%). For mom and her spouse, which will be multiplied by two that means you save $1825.

Other program outlays have decreased from 64.5 billion in 2001 to 8.3 billion in 2010. Obviously, this outlay provides no chance of saving off of the budget.

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