![]() ![]() For example, everyone pays a tax rate of 10% on the first $10,275 of their income. ![]() The United States uses marginal tax rates, meaning each income tax rate only applies to a certain portion of your income. Here is a breakdown of the progressive income taxes in the United States, based on the income of a single individual in 2022 (for taxes due in spring 2023): Those making more than $539,900 pay a 37% tax on the portion of their income that falls above that threshold. As of 2022, those individuals with an income of $10,275 or less pay only a 10% tax on their income. The United States has a progressive income tax system with seven different tax brackets ranging from 10%–37%. So the higher someone’s income, the higher the tax rate they pay the lower someone’s income, the lower the tax rate they pay. In a progressive tax system, the percentage that someone pays in taxes increases as their income increases. ![]()
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