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Hello John,
This week’s dive into the fiscal cliff examines marginal tax rates and why
they are the most important part of renewing the 2017 Tax Cuts and Jobs Act.
The idea is simple: When you keep more of what you earn, you’re encouraged to
work more, save more, and invest more.
And it’s not just about personal finances — it’s about creating a stronger
economy that benefits everyone, rich and poor alike.
It’s your money, not Washington’s.
That’s why low marginal tax rates matter, and why we need your voice to make
sure they don’t go away.
What is a marginal tax rate?
A marginal tax rate is the tax you pay on each additional dollar you earn.
Since we have a progressive tax code and not a flat one, as you earn more money
you are pushed into higher marginal tax brackets — up to 37% for the highest
earners. But the impact is still huge for those making less than $100k.
That doesn’t mean all your income is taxed at that percentage, just the most
recent dollars. The first dollars you earn are taxed at a lower rate.
High marginal tax rates discourage people from working more or taking risks
that could increase their income.
Let’s say you’re working long, hard hours and reach a point where each
additional dollar you earn will be taxed at 22%, which means you’re only
earning 78 cents on the dollar (and that’s before other taxes).
Let’s put it another way: You’re currently making $47,000 a year.
* The first $11,600 will be taxed at 10%.
* What you make from $11,601 to $47,150 will be taxed at 12%.
Now, let’s say you get a $3,000 raise. Everything you make over $47,150 will
be taxed at a whopping 22%. At that point, you might decide working more isn’t
worth it, choosing instead to spend time on other priorities.
The same applies to saving and investing (for businesses as well as
individuals): A bigger tax penalty on things like interest, dividends, and
capital gains might lead folks to spend rather than save. That’s a problem
because it is saving and investment, not consumption, that leads to higher
economic growth in the future.
Here’s how lower marginal rates allow everyone to thrive:
* For workers: Low taxes make it more appealing to take on bigger roles,
extra shifts, or side hustles, helping people reach financial goals like
homeownership, college, or retirement.
* For business owners: Less tax means more to reinvest in hiring, expanding,
or supporting employees, boosting local economies.
* For the overall economy: More investment drives growth, strengthens
communities, and fuels innovation and prosperity.
In short, low marginal tax rates fuel a cycle of growth that impacts everyone,
from individuals to neighborhoods to the national economy.
This isn’t just theory. In the wake of the Trump tax cut’s passage in 2017 and
up until Covid upended everything, we saw tangible economic benefits across the
board. Here are just a few examples:
* 7 million new jobs were created
* Family income increased nearly $6,000
* Wages rose fastest for low-income and blue-collar workers
* The bottom 50% of American households saw a 40% increase in net worth
* Unemployment for minority groups reached record lows
The post-Trump tax cuts economy was truly one of the strongest in recent
memory. And it is clear evidence that low marginal tax rates don’t just help
individuals — they generate widespread benefits that ripple throughout society.
Help keep the Trump tax cuts in place
This is where you come in: The Trump tax cuts have proven their ability to
drive growth, but they are not guaranteed to be renewed. To ensure that this
progress continues and that everyone has a fair chance to thrive, we need your
voice.
Sign our petition today
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to advocate for the renewal of the Trump tax cuts and protect the low marginal
tax rates that benefit workers, businesses, and communities alike.
Sign the petition
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Thank you for being a part of this important effort — your voice truly matters!
Best,
Joe Eule
Americans for Prosperity
P.S. Every small step makes a difference. Share this message with a friend,
fellow activist, or business owner who cares about their community’s growth.
Americans for Prosperity believes freedom and opportunity are the keys to
unleashing prosperity for all. We are a community of millions of concerned
citizens advocating for solutions based on proven principles to tackle the
country's most critical challenges.
Americans for Prosperity
4201 Wilson Blvd, Suite 1000
Arlington, VA 22203
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