How did I fare under the so-called Trump Tax Cuts?
Federal:
From 2017 to 2018, my taxable income increased about $8500.
From 2017 to 2018, my federal tax increased less than $100 (less than 1.2% of that increase).
I don't have much "interest income" and the like, so let's do the simplest calculation possible: federal tax divided by gross teacher income (the largest number I can find on my W-2).
2017: 13.25%
2018: 12.12%
California:
From 2017 to 2018, my taxable income increased about $7800.
From 2017 to 2018, my state tax increased about $620 (about 8% of that increase).
State tax divided by gross teacher income:
2017: 4.4%
2018: 4.7%
At the federal level I came out better than last year. At the state level I did worse. Shocking, I'm sure, when you consider which state I live in.
1 comment:
Well you're rich, and you're not paying your fair share, you greedy, racist, sexist, misogynist, chrometophobist, scruffy looking nerf herder! :<)
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