LogFAQs > #939182195

red sox 777 posted...

I'm figuring $2,000 a month unemployment. There's a 22% tax rate, so that's $440. If the $600/week is taxable too, that's another $2,600 or so a month of taxable income. So about $600. Now we're at over $1,000 in income tax on unemployment per month.

You just said you are basically against extending the $600 a week. So that ends the $2400 there (no idea where you are getting $2600 unless you are accounting some months have an extra pay week or something).

And, the tax withhold on unemployment is 10%. Not 22%. Why would it even be 22%?

PA Unemployment is 575 a week. That is 29,900 a year. The 22% tax bracket doesn't come in until $40,126 for single filers. $80,251 for married filers.

So, why would you be acting like a 22% bracket tax would ever matter. At most a portion would be 12%.

At 2,300 a month in PA, you are getting 230 withheld for taxes.

In states such as Mississippi the max is $235 a week. For a whopping $940 a month, and a $94 benefit.

And, this is assuming maximum rates, which some probably don't qualify for and why I have it as a low as a $20 benefit in my above estimate. Hell, with the standard deduction, some may not even have a tax liability at all.

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