Reply
Senior Contributor
Posts: 462
Registered: ‎05-16-2010

Re: taxing the rich

schnurrbart

In 2017 married filing jointly you(and everyone) had a standard deduction of $12700. So on the first $12700 you earn you end up paying no income tax. If you make $20,800 that leaves $8,100 that gets wiped out with your two exemptions $4,050 each. You're at $20,800 and no tax.