Students' notes of things seen, heard, or read  
 Did you know   (another random factoid)  
, back to

Political Factoid

Income tax deductions are "regressive."
An income tax deduction reduces
the taxes of a wealthy person
more than it reduces the taxes
of a lower-income person.
Example
Person in 35%
tax bracket
Each $2,000 tax deduction
saves $700 dollars in taxes.
Person in 15%
tax bracket
Each $2,000 tax deduction
saves only $300 dollars in taxes.
  • Personal deduction/exemption
  • Charitable deduction
  • Medical deduction
  • Mileage deduction
  • Property tax deduction*
  • etc.
* More likely a higher deduction to begin with
for a more-affluent person (i.e., with a bigger,
more expensive house
).
 
cf. 1436, 2266, 923, 3484, 5450
-30-

Collected by students of  Zo^o University
Last updated * 2017-12-25
Copyright © 2016-2017 Zo^o University
All Rights Reserved