At 06:18 PM 3/19/01 -0500, Grlygrl201@aol.com wrote:
>regarding percentage of taxes paid (another post i'm too lazy to look for
>now) is it not true that anything over $800k in income is not taxed?
>
>geege
Geege, that's an outrageous rule if it exists. I don't think it does,
though. I've got the handy CCH-published version of the Federal Income Tax
Codes & Regulations in front of me and the tax brackets in sec 1(a) always
list the top as "over $x," where x is $250K for marrieds filing jointly,
heads of households, and singles, and $125K for marrieds filing separately.
There are *lots* of funky things buried in other 2027 pages of the tax
code, but page one says that you pay 39.6% on everything above $X, on up to
infinity.
--A.
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