Income Tax System & Tax Brackets Explained

Bryan addresses the US progressive tax system and the tax consequences of investments in relation to the tax brackets currently in place.

www.financialcoachshow.com | Tune in for the radio show on 97.1 FM Talk, Sundays 5-7pm

Don't forget to subscribe to the Financial Coach Show Podcast on iTunes - Get weekly rebroadcasts of the radio show and special audio updates between shows to keep you up to date with current happenings in the financial world! Search 'Financial Coach Show' in the iTunes store... it's FREE to subscribe!

Category:

Education

Tags:

• Tax
• Taxes
• IRS
• Bracket
• Income
• Income Tax
• Investments
• Investing
• Deduction
• Exemption
• Finances
• Financial Advice
• Financial Planning
• CPA

[MatteoTorgy]

Our current fed tax collections represent 14.4% of our GDP. That's about 4% less than historical averages, at a time when we have only 3 workers for every one retiree. Also, because of compensation in the form of stock options (which are taxed at 15% as capital gains) and the business expense deductions, etc, Warren Buffets of the world are taxed at a lower effective rate than the working class and middle class. That's a fact! "Not fair"? Shove it!

[MatteoTorgy]

This is very misleading. Currently we have the lowest combination of local/state/federal tax collections since 1950. Currently, our highest marginal tax rate is 35%. Compare that to the highest rates throughout history. Under Eisenhower, the highest tax rate was 91%. Under Nixon, 77%. Ford, 70%. Even Reagan, 50%. Is 35% enough? No. Look at the deficit explosion since the Bush tax cuts of 2001 and 2003. The result? A $14 trillion national debt.

[uclahistory]

The gov dsn't control GM. Under cap the motive is 2 max $, it is contradictory to say "caps want to give workers the best wage". Use curr. sources. Did u go to a Univ?