Ray Lucia, Twenty Two Percent, Twelve Percent discussed on The Ray Lucia Show

Automatic TRANSCRIPT

Very much welcome to the ray lucia show welcome back i should say about this this tax bill there's really something in here for everybody many individuals will pay zero tax i just did a quick calculations they don't hold me on this but it appears to me that he married couple that in about five grand a month with two kids will pay zero in taxes about sixty sixty two thousand sixty three thousand bucks zero in taxes that's pretty darn fantastic and that's you know middle class i would say but let me kick it up a notch does somebody that makes one hundred and fifty five thousand remember the new tax rates work like this you have a zero percent bracket on the first twenty four thousand of income then you have a ten percent rate on the next nineteen thousand of income a twelve percent rate on the next fifty eight thousand of income and a twenty two percent rate on the next seventy eight thousand or so of income i'm rounding so at one hundred and fifty five thousand of income for a married couple you would end up with a tax of zero on the first twenty four thousand nine thousand nine hundred and five dollars on the next nineteen.

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