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What's a debt ceiling?
The government borrows money when spending exceeds receipts. The borrowing is done through the issue of securities by the Treasury and other federal government agencies.
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Costs up 8.5%
Employers' spending on health coverage for workers continues to skyrocket
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Employment Taxes Rising
Employment Taxes Keep On Rising.
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Single Taxable Income Brackets and Rates |
Rate |
Taxable Income Bracket |
Tax Owed |
10% |
$0 to $11,925 |
10% of Taxable Income |
12% |
$11,926 to $48,475 |
$1,192.50 plus 12% of the excess over $11,925 |
22% |
$48,476 to $103,350 |
$5,578.50 plus 22% of the excess over $48,475 |
24% |
$103,351 to $197,300 |
$17,651 plus 24% of the excess over $103,350 |
32% |
$197,301 to $250,525 |
$40,199 plus 32% of the excess over $197,300 |
35% |
$250,526 to $626.350 |
$57,231 plus 35% of the excess over $250,525 |
37% |
$626,351+ |
$188,769.25 plus 37% of the excess over $626,350 |
Married Filing Joint Taxable Income Brackets and Rates |
Rate |
Taxable Income Bracket |
Tax Owed |
10% |
$0 to $23,850 |
10% of taxable income |
12% |
$23,851 to $96,950 |
$2,385 plus 12% of the excess over $23,850 |
22% |
$96,951 to $206,700 |
$11,157 plus 22% of the excess over $96,950 |
24% |
$206,701 to $394,600 |
$35,302 plus 24% of the excess over $206,700 |
32% |
$394,601 to 501,050 |
$80,398 plus 32% of the excess over $394,600 |
35% |
$501,051 to $751,600 |
$114 462 plus 35% of the excess over $501,050 |
37% |
$751,601+ |
$202,154.50 plus 39.6% of the excess over $751,600 |
Head of Household Taxable Income Brackets and Rates |
Rate |
Taxable Income Bracket |
Tax Owed |
10% |
$0 to $17,000 |
10% of taxable income |
12% |
$17,001 to $64,850 |
$1,700 plus 12% of the excess over $17,000 |
22% |
$64,851 to $103,350 |
$7,442 plus 22% of the excess over $64,850 |
24% |
$103,351 to $197,300 |
$15,912 plus 24% of the excess over $103,350 |
32% |
$197,301 to $250,500 |
$38,460 plus 32% of the excess over $197,300 |
35% |
$250,501 to $626,350 |
$55,484 plus 35% of the excess over $250,500 |
37% |
$626,351+ |
$187,031.50 plus 37% of the excess over $626,350 |
| Source: IRS. |
- Social Security Tax at a rate of 12.4% on wages and self-employment income up to the annual Social Security wage base of $176,100.
Standard Deduction is $30,000 effective tax year 2025 for married filing jointly and $15,000 for single and married filing separately.
- Capital Gains tax rates vary depending on whether the gains are short-term or long-term.
Short-term gains taxed at ordinary income tax rates.
Long-term gains and qualified dividends for MFJ taxed at
* 0% for taxable income up to
$94,050
* 15% for taxable income up to $583,750
* 20% for taxable income above $583,750
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