With Pres. Barack Obama returning from his holiday in Hawaii to try to resolve the fiscal cliff conflict, we thought it was worth sharing this interactive chart created by Ritchie King at Quartz. You can type in your taxable income and see your tax rate in any year, going all the way back to 1913.
A lot of tax talk focuses on tax brackets. But in order to get the full picture of what you hand over to Uncle Sam, you need to consider not your bracket, but your effective tax rate -- and those are two very different numbers.
On Thursday, GOP presidential candidate Michele Bachmann may have inadvertently made one of the boldest moves of the 2012 primary campaign. Speaking on Fox News, the Minnesota congresswoman stated that she wants to adopt Ronald Reagan's tax plan, a rate structure that's much higher than current tax rates.