Originally Posted by
Bucking Bar
In most states, "taxable income" for the final $ of yearly earnings is ~ 40%.
Tax Rate Taxable Income
(Single) Taxable Income (Married Filing Jointly)
10% Up to $10,275 Up to $20,550
12% $10,276 to $41,775 $20,551 to $83,550
22% $41,776 to $89,075 $83,551 to $178,150
24% $89,076 to $170,050 $178,151 to $340,100
32% $170,051 to $215,950 $340,101 to $431,900
35% $215,951 to $539,900 $431,901 to $647,850
37% Over $539,900 Over $647,850
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Plus state. Georgia is 7%
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I am FOR the MBCBP.
historical s+p returns would pay for that tax multiple times with money left over vs the MBCBP’s 5% “target” and not be locked up until retirement.
I am for an optional plan that doesn’t and won’t exist