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April 15, 2011

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Hey, two things highlighted here: the stupidity of people for thinking moving into a higher bracket = less money in their pocket, and the stupidity of a couple in a legally recognized union not getting the same loopholes.

Our tax code is a mess.

check out this cool visualizer on where your tax money goes:

http://vidi.cs.ucdavis.edu/demos/tax/

Thanks Kevin. That's certainly a ... flashy ... visualization.

I have read a number of posts over the years pointing out that marginal tax rates!=average tax rates. The point being, I guess, that income taxes are not as high as common perceptions of them are. As an interesting counterpoint, I'd like to ask two questions (no googling, please): i) what is the percentage of households not paying any income taxes? ii) what is the percentage of total federal taxes paid by the top 1% of income earners?

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