Originally Posted by
blackcap
I remember a time when our tax rates were similar (although different) when I was fresh eyed out of Uni and new grads started on $29,000 per annum. That is $15 per hour give or take. We were in the tax bracket below 30% or 33% or whatever it was. Now days, straight out of uni and you are already in the 30% bracket. That is just sillyness. The amounts need to be adjusted pronto. I would suggest:
0-$25 0%
$25k-$80K 17.5%
$80k-$200k 33%
$200k+ 39%
That would make things simpler (eliminating the stupid 30% and 33% rates and combining in one and realign for the effects of inflation.)