Friday, January 27, 2012

Tax Bite

I'm not one to complain about my taxes, but I'm probably in fairly similar circumstances as James Stewart. Significant proportion of self-employment income, household income at a level where deductions start being disallowed, etc. The issue is less that my taxes are too high than that that I pay a high percentage relative to people who make a lot more money than me. I'm not going to weep for people in my nondire circumstances over a too high tax bill, but there is an income range where taxes do actually bite, where marginal tax rates are genuinely high.