SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : ahhaha's ahs
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: JayPC who wrote (351)10/21/2000 11:35:21 PM
From: GraceZRead Replies (2) of 24758
 
Those numbers are close for my personal income, and yes they are assuming no deductions

Jay are you talking 47 as a marginal rate or average rate?

I'm in a 33% marginal rate but it's 15% up to a certain point, then 28% up to a certain point and then 33%. Take out deductions and it drops me back down.....then add in 7% for state. When I count it all up it amounts to 25% average including social security which is 15% for self employed.

Then there are all those other taxes.....5% sales, 6% real estate and personal property tax. Then the biggest tax which is the cost of keeping all the records and paying the accountant since no wage earner can possibly keep up with the changes in the tax code. Our tax code is a full employment act for accountants and congressmen.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News