The Obamanation

[TheMercenary]

Originally Posted by Happy Monkey

That may be, but it is irrelevant. 1% of ($280,001 - $280,000) is one cent. There are a couple more gradations, until it is 5.4% of anything over $1 million. So someone making $1,000,001 would pay 5.4 cents plus whatever the formula works out for the income between $1 million and $280,000.

No where does it say that the tax is only on the income over $280,000. It says income earners who make more than that amount.