this post was submitted on 18 Jul 2025
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Is tax 33% in the USA? or are you not referring to the USA?
Federal Tax Rates in the US 2024-25 run from 10% to 37%.
I am guessing that not too many pay over 30% then? Also that this is in brackets, so that only the amount over certain point is taxed higher?
I am still surprised that taxes can be so high, and people require so little for it!
Federal income tax rates for individuals are categorized into seven brackets: 10%, 12%, 22%, 24%, 32%, 35%, and 37%
10%: Applies to the lowest income bracket. 12%: Applicable just above the 10% bracket, capturing more of the median incomes. 22%, 24%: These middle brackets cover a broad range, reflecting moderate to higher-income levels. 32%, 35%: Affect those with substantially higher earnings before hitting the peak rate. 37%: The top rate, reserved for the highest earners. It’s important to note that these rates apply to different portions of your income rather than the entire amount. This means that if you fall into the 24% bracket, only income within that range is taxed at 24%.