Tax Brackets
Had Turbow read the Senate Finance Committee’s bill objectively, he would have noted that the 27% bracket concerns only that income that exceeds $29,300. Therefore, the income he cited would be taxed as follows: $29,300 at 15% equaling $4,395 and $625 at 27% equaling $168.75 for a total of $4,563.75, not $8,079 as he states.
The income increase of the 5% he uses would net, after taxes, 4.69% plus a dime.
LESLIE V. JOHNSON
Costa Mesa
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