Series 52: 6.1.1. Tax Brackets

Taken from our Series 52 Top Off Online Guide

6.1.1. Tax Brackets

To understand the concept of a progressive tax system, imagine that the government allows you to fill up a series of buckets with a portion of your earned income (wages, salaries, and earnings from self-employment and rental properties). Each bucket is taxed at a different rate. Everything you can fit into the first bucket is taxed at the lowest income tax rate. If you have more earned income than can

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