Don't complain too much brother, look at it this way.
At 88 hours your take home should almost double, probably be about 170% of your normal check, at the end of the year when you file the refund you'll get will have made it double for sure.......
Just feed the monkey!!
you make 100.00 extra they gets 50% lol the more you make the more they take. The system is backwards.
Everyone says that, but look at the facts.
Every paycheck is taxed at a certain bracket calculated by "assuming" that particular paycheck is what you will be earning over the course of a year. i.e. if you get paid every week they multiply that gross by 52 and that's your income for tax bracket assignment for that particular paycheck.
This happens for every paycheck.
Unless you work at that pace all year then your bracket isn't going to change and you'll get it back at the end of the year.
It takes a hell of an income jump to actually put you in a higher bracket at the end of the year when you file.
I worked over 1000 hours o.t. last year, my bracket, with wifes income, was the 35%...
Our "Effective Rate" after deductions was only 17%
On the other hand "the more you make the more they take" is most certainly a true statement. Tax brackets and effective tax rates are most certainly VERY progressive. Which is why saying the rich need to pay more is b.s., they are already paying more as a percentage of thier share of total income in the U.S. than lower income earners, who usually pay less percentage of tax compared to their share of the income........
Effective tax is the true tax you pay based on adjusted gross income and after all credits and deductions, including the IEC, it's a hell of a lot less than the bracket you're in.
Bleeding the rich isn't going to fix this country,
I've never worked for a poor man and neither have any of you.
Here is an eye opener for you
http://www.usatoday.com/money/perfi/taxes/story/2012-01-19/romney-tax-rate/52682372/1