The IRS used to publish the full schedule within the 1040 instruction booklet, but now they only post it for over $100,000 in income. It was located at the end of the tax table and would show the split points for the income tax. It is possible to calculate what the split points on the income below $100,000 buy running regressions on the table. This is from a 2005 tax table for single.
0 – 7299 10% marginal rate, 10% total.
7300 – 29699 15% marginal rate (additional dollars over 7300 taxed at 15% on top of the 10% on under 7300)
29700 – 71949 25% marginal rate.
71950 – 150149 28% marginal rate.
150150 – 326449 33% marginal rate
326450+ 35% marginal rate.
Add in the fact that deductions start being eliminated for incomes over 146000(single)… so where is it that the rich are getting a break? 35% of your income gone to fed taxes? Add in CA state and you are looking at 44% of your income gone to taxes. Take a look at where the money is being spent. The portion of gov spending for social programs is greater than defense spending.
