One other consequence of this is that a cleaning lady in San Francisco may make $70K per year and be near the poverty line, yet be in the same tax bracket as a professional living in Nebraska who is living well above the poverty line.
It would be interesting to see an illustration of how regressive Federal tax brackets are when you consider the state-by-state cost of living differences. Some of the most populous states have the highest cost of living.
It would be interesting to see an illustration of how regressive Federal tax brackets are when you consider the state-by-state cost of living differences. Some of the most populous states have the highest cost of living.