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Latest revision as of 01:58, 21 May 2026

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Because for this increasing tax rate of upper brackets, a reduction of taxable income with the higher bracket saves you more tax than aren't reduction at a lower mount. So let's compare the tax saving of contributing $1000 by a single individual with a $30,000 income with exactly what a single person with a $100,000.

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Someone making $80,000 yearly is really not making good of hard cash. The fed's 'take' is a lot now. Taxation originally started at 1% for the rich. And now the government is intending to tax you more.

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