How Tax Brackets Work
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Uploader Comments (EconAlannah)
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All Comments (7)
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the video is going to give me that much more context to put the current political disscorse into perspective.thanks
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I feel more educated now! thank you!
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this is great. now it seems even more reasonable to increase taxes on people who make over $250000 a year
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wonderful video. very informative, you explained it nice, slow and clear. I hope all our teachers were like you.
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thank you for explaining what a tax bracket is.I was wondering how that worked .Really good video
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if this is true than everyone i know is getting screwed
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Thank you for that info. I was wondering about that exact thing for my Tax's. The only question I have is what about the fixed rate at every tax bracket level. If I can lower my net to drop me down in the next bracket down, wouldn't that save me quite a bit of money?
royalvisionmatrix 2 years ago
Go to the slide that says "How's Levi?" (about 7:15). It shows what Levi pays in each bracket. But it doesn't show what he pays in total. Let's do that now.
He has $39,000 in income. Looking at all the brackets, he pays
$0 + $250 + $1500 + $1500 + (.25x$4000) = $3250 + (.25x$4000).
I think that $3250 is what you mean by the "fixed" amount. So it's not a tax slapped on top of the rate; it's the tax table adding up the previous brackets (which you went through) for you. Is that what you mean?
EconAlannah 2 years ago