I’m curious about more specific numbers for Washington. I live in the Seattle area, make “good for working class” money, something like 25-30% of my income goes to tax, and we don’t even have state income tax. Do people making less pay like 50% taxes, if so is that all federal based, is the group of people they’re talking about just so far above my income level I’m not grasping it?
I’ve found this website pretty accurate. It also breaks down income and fica etc
Washington is pretty easy since no state income taxes
To answer your question. As you make more, each addition amount is taxed a little more. So rich people and poor people pay the same rate on their first $50k, but rich people will pay higher rates on each check after 50k . There are several of these brackets and the. They kinda work like a step function.
I’m curious about more specific numbers for Washington. I live in the Seattle area, make “good for working class” money, something like 25-30% of my income goes to tax, and we don’t even have state income tax. Do people making less pay like 50% taxes, if so is that all federal based, is the group of people they’re talking about just so far above my income level I’m not grasping it?
https://smartasset.com/taxes/washington-paycheck-calculator#SpXkRlFJKS
I’ve found this website pretty accurate. It also breaks down income and fica etc
Washington is pretty easy since no state income taxes
To answer your question. As you make more, each addition amount is taxed a little more. So rich people and poor people pay the same rate on their first $50k, but rich people will pay higher rates on each check after 50k . There are several of these brackets and the. They kinda work like a step function.