Americans who earn more than $1 million in taxable income would trigger an extra 6 percent tax on the next $200,000 they earn—a complicated change that effectively creates a new, unannounced tax bracket of 45.6

Actually, the Republican tax reform plan does raise taxes on the rich

By Matthew Vadum -- BombThrowers—— Bio and Archives--November 6, 2017

American Politics, News | Comments | Back To Full Article

The GOP’s newly unveiled tax reform legislation would raise taxes on high earners to 45.6 percent, not cap them at 39.6 percent, as its proponents claim, according to an analysis of the proposal by Danny Vinik of Politico. Republicans’ proposed “Tax Cuts and Jobs Act” would collapse the current seven individual income tax brackets – 10, 15, 25, 28, 33, 35, and 39.6 percent into just four – 12, 25, 35, and 39.6 percent – according to a summary of major details by the Tax Foundation.

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