After hearing many discussions regarding the effect of reverting to the Clinton era federal income tax rates, I decided to estimate, using IRS tax tables, the effect for three hypothetical married couples filing jointly each with different taxable incomes.
See the accompanying table below for the results.
Superficially, at least, it seems the effect is not uniform among different income levels.
At first glance, it appears the higher income couple bears the least burden, as a percent of taxes paid, from the change.
Perhaps some Town Crier reader can explain why this isn’t so.
Thomas McCullough
Pine Cove
