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2007 Marginal Tax Rates

A long time ago, I posted an article about 2004 marginal tax rates. It was a handy reference and I used it several times. This post is in the same mold, but for 2007. None of the tax rates have changed since the earlier article; only the brackets have moved.

Here are the 2007 federal income tax brackets:

  • 10% on the first $7,825
  • then 15% up to $31,850
  • then 25% up to $77,100
  • then 28% up to $160,850
  • then 33% up to $349,700
  • then 35% on the rest

(Here's an interesting page that charts the top marginal rate since the creation of the federal income tax in 1913.)

FICA tax rates have been stable for many years. I list the self-employment rates because that's the correct measure of the tax. It's only true that "the employer pays half" in an accounting sense; it's still part of the cost of employing you. (Instead of "coming out" of your paycheck, it simply never "goes in", but either way you're still paying it.)

I was not able to find 2007 figures for the Oregon income tax, and the 2006 figures I found here and here disagree on where the top bracket starts ($6,650 vs. $6,550) so I'll split the difference.

  • 5% on the first $2,650
  • then 7% up to $6,600 (see above)
  • then 9% on the rest

And here are the numbers tabulated:

TaxIncome Bracket
$0$2650$6600$7825$31850$77100$97500$160850$349700
Total30.3%32.3%34.3%39.3%49.3%52.3%39.9%44.9%46.9%
Federal10%15%25%28%33%35%
Oregon5%7%9%
OASDI12.4%0%
HI2.9%

(Shouldn't I get some kind of recognition for using the word "tabulated" in its most literal sense? Nobody does that…)


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