Income tax rates seem to change with every president. In the late 1990's President Clinton raised the highest rate to 39.6%. Then, President Bush lowered it to 35%. President Obama wants to raise the highest rate back up to to where it was in the nineties.
Truthfully, these changes mean little. The biggest change is going to occur for the middle class, netting the most rewards for the highest income-earning middle class citizens, whose joint income is between $70,000-80,000.
New Income Tax Rates for 2011
The 2011 income tax rates will be as follows:
- Income Taxing
- Real Estate Income Trust
- State Income Tax Papers
- Fixed Income Securities Inc
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- Sample Income Statement And Balance Sheet