Income tax 101 , not including capital gains or state tax?
ok so thats basic 6607+2790(social security)+652(medicare)+3442(fica)=13491 in federal income taxe (no deductions no dependants nothing just a single person owns a house)
now if a single person home owner same as above makes 250,000 a yr
and following the same as above would be 82,045 fed income tax
so If the 250,000 dollar a yr is paying 82,045 dollars a yr and and the 45,000 is paying 13,491 a yr ,
please explain where the the person earning more gets a tax break ?
now remember this is just a home owner with no other deductables and single
i cant add state tax due to it changes per state