Glenn Kessler

@GlennKesslerWP ↗

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Last Checked Feb. 25, 2022

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Thu Sep 30 16:34:42 +0000 2021

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Glenn Kessler @GlennKesslerWP

Treasury Secretary Paul O'Neill once showed me what eliminating the cap on the Medicare tax did to his tax returns --it added something like 40-50K to his annual tax bill. — PolitiTweet.org

Posted Sept. 30, 2021 Hibernated

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Glenn Kessler @GlennKesslerWP

Clinton boosted the top rate from 31 to 39.6, but given the top rate had gone from 70 to 50 to 28 under Reagan, apparently he was afraid to cross the 40 percent level. But he also eliminated the cap on the 1.45% Medicare tax, effectively making it 42% for upper income folks. — PolitiTweet.org

@AlanMCole Why is it that every time the Democrats raise the top rate it goes to 39.6%? Why the .6? Was it a quirk… https://t.co/rC8cMVlfaL

Posted Sept. 30, 2021 Hibernated

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Glenn Kessler @GlennKesslerWP

Oops, I meant a top rate of 41 percent. I suspect the 39.6 percent is related to the 1.45 percent Medicare tax. — PolitiTweet.org

Posted Sept. 30, 2021 Hibernated