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Re: Bipartisan Agreement - Carol
I'm not going to try to claim that wealthy people don't look for loopholes but I don't know where you get the idea that they don't pay a good amount of the tax revenue that comes in. I've said before that low income people pay nothing and often can get refund money after the exemptions they claim even if they've never actually paid a dime. These are the 2019 brackets AFTER all deductions and exemptions have been taken on what is the taxable income of a single person. If income is higher than these amounts, it has to be calculated. No one is exempt.
12% - $9,700 Tax Due $1,164
22% - $39,475 Tax Due 8,685
24% = $84,200 Tax Due 20,208
32% - $160,725 Tax Due 51.432
35% - $204,100 Tax Due 71,435
37% - $510,300 Tax Due 188,811
"Fundamentally transform the country" were Obama's words and what he actually meant by them depends on who deciphers them. We certainly have been "transformed" since 2008 and most of the changes are not positive in my mind.