However, unless you are in the very bottom tax bracket, the 10 percent bracket, you don't pay the percentage named on your entire income. (studentloanhero.com)
Finally, the value of deductions rises with marginal tax rates, which are higher for those with higher incomes: someone in the bottom tax bracket only gets a 10 - cent subsidy for $ 1 of deductions while someone in the top bracket gets 39.6 cents. (crfb.org)
We each have about $ 150,000 in our RRSPs but are wondering if we should withdraw money from my wife's RRSP over the next few years to substantially pay down the principal on our mortgage ($ 250,000, 10Y, 35A, 6 %) now that my wife is in the bottom tax bracket (with no income at all). (moneysense.ca)