For example Missouri, Georgia, Montana, Iowa, etc. I'm talking about lots of brackets with small differences and for very little income.
Let's look at Missouri:
- Tax rate of 0% on the first $106 of taxable income.
- Tax rate of 1.5% on taxable income between $107 and $1,073.
- Tax rate of 2% on taxable income between $1,074 and $2,146.
- Tax rate of 2.5% on taxable income between $2,147 and $3,219.
- Tax rate of 3% on taxable income between $3,220 and $4,292.
- Tax rate of 3.5% on taxable income between $4,293 and $5,365.
- Tax rate of 4% on taxable income between $5,366 and $6,438.
- Tax rate of 4.5% on taxable income between $6,439 and $7,511.
- Tax rate of 5% on taxable income between $7,512 and $8,584.
- Tax rate of 5.4% on taxable income over $8,584.
What the hell is the point of this? Do we need to have such an elaborate tax schedule for people that make between $12,500 and $21,084 for between $0 and a whopping $279 of taxes?
Submitted March 08, 2021 at 09:47PM by clone162 https://ift.tt/3v4teS1
