Home / News / See how tax brackets affect your income tax rate in surprising ways | Just The FAQs

See how tax brackets affect your income tax rate in surprising ways | Just The FAQs

Why being taxed, say 22% of your income, is a lot more complicated than you may assume. Here’s a breakdown of what you actually pay in income taxes.
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Even before the U.S. economy was slammed by a pandemic, the typical American household’s income grew at a slower pace in more than half of the states under Donald Trump than in the years leading up to his presidency, according to a new Capital & Main analysis of U.S. Census data.

Those states include several key battlegrounds, undercutting one of Trump’s central campaign themes: that before COVID-19 his actions led to an economy he has described as “the best it has ever been.”

Pennsylvania saw its typical household’s income growth slow from 6.2% in Obama’s last three years to 4.7% in Trump’s first three years, while median household income growth in Wisconsin declined from 7.1% to 6%.

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