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The Financial Cliff
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<blockquote data-quote="Ms.PacMan" data-source="post: 1075239" data-attributes="member: 4656"><p>All income tax is "stepped up" meaning we all pay the same tax rate for the same brackets. </p><p>2012 tax rates</p><table style='width: 100%'><tr><td>Tax rate</td><td>Single filers</td><td>Married filing jointly or qualifying widow/widower</td><td>Married filing separately</td><td>Head of household</td></tr><tr><td>10%</td><td>Up to $8,700</td><td>Up to $17,400</td><td>Up to $8,700</td><td>Up to $12,400</td></tr><tr><td>15%</td><td>$8,701 - $35,350</td><td>$17,401 - $70,700</td><td>$8,701- $35,350</td><td>$12,401 - $47,350</td></tr><tr><td>25%</td><td>$35,351 - $85,650</td><td>$70,701 - $142,700</td><td>$35,351 - $71,350</td><td>$47,351 - $122,300</td></tr><tr><td>28%</td><td>$85,651 - $178,650</td><td>$142,701 - $217,450</td><td>$71,351 - $108,725</td><td>$122,301 - $198,050</td></tr><tr><td>33%</td><td>$178,651 - $388,350</td><td>$217,451 - $388,350</td><td>$108,726 - $194,175</td><td>$198,051 - $388,350</td></tr><tr><td>35%</td><td>$388,351 or more</td><td>$388,351 or more</td><td>$194,176 or more</td><td>$388,351 or more</td></tr></table><p></p><p></p><p></p><p>Read more: <a href="http://www.bankrate.com/finance/taxes/2012-tax-bracket-rates.aspx#ixzz2GjoNgWGy" target="_blank">2012 Tax Bracket Rates | Bankrate.com</a></p><p></p><p>However the GOP plan originally negotiated a flat rate increase up to (?). That mistake went viral on financial blogs and I'm sure was corrected in the final offering.</p></blockquote><p></p>
[QUOTE="Ms.PacMan, post: 1075239, member: 4656"] All income tax is "stepped up" meaning we all pay the same tax rate for the same brackets. 2012 tax rates [TABLE="class: gen-table2"] [TR] [TD="width: 30"]Tax rate[/TD] [TD="width: 100"]Single filers[/TD] [TD="width: 100"]Married filing jointly or qualifying widow/widower[/TD] [TD="width: 100"]Married filing separately[/TD] [TD="width: 100"]Head of household[/TD] [/TR] [TR="class: bkon"] [TD]10%[/TD] [TD="class: tr"]Up to $8,700[/TD] [TD="class: tr"]Up to $17,400[/TD] [TD="class: tr"]Up to $8,700[/TD] [TD="class: tr"]Up to $12,400[/TD] [/TR] [TR] [TD]15%[/TD] [TD="class: tr"]$8,701 - $35,350[/TD] [TD="class: tr"]$17,401 - $70,700[/TD] [TD="class: tr"]$8,701- $35,350[/TD] [TD="class: tr"]$12,401 - $47,350[/TD] [/TR] [TR="class: bkon"] [TD]25%[/TD] [TD="class: tr"]$35,351 - $85,650[/TD] [TD="class: tr"]$70,701 - $142,700[/TD] [TD="class: tr"]$35,351 - $71,350[/TD] [TD="class: tr"]$47,351 - $122,300[/TD] [/TR] [TR] [TD]28%[/TD] [TD="class: tr"]$85,651 - $178,650[/TD] [TD="class: tr"]$142,701 - $217,450[/TD] [TD="class: tr"]$71,351 - $108,725[/TD] [TD="class: tr"]$122,301 - $198,050[/TD] [/TR] [TR="class: bkon"] [TD]33%[/TD] [TD="class: tr"]$178,651 - $388,350[/TD] [TD="class: tr"]$217,451 - $388,350[/TD] [TD="class: tr"]$108,726 - $194,175[/TD] [TD="class: tr"]$198,051 - $388,350[/TD] [/TR] [TR] [TD]35%[/TD] [TD="class: tr"]$388,351 or more[/TD] [TD="class: tr"]$388,351 or more[/TD] [TD="class: tr"]$194,176 or more[/TD] [TD="class: tr"]$388,351 or more[/TD] [/TR] [/TABLE] Read more: [url=http://www.bankrate.com/finance/taxes/2012-tax-bracket-rates.aspx#ixzz2GjoNgWGy]2012 Tax Bracket Rates | Bankrate.com[/url] However the GOP plan originally negotiated a flat rate increase up to (?). That mistake went viral on financial blogs and I'm sure was corrected in the final offering. [/QUOTE]
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