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Politics : Formerly About Advanced Micro Devices
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To: i-node who wrote (397410)7/9/2008 2:06:36 PM
From: michael97123  Read Replies (2) of 1575901
 
Nope..you are failing to note that the lower portions of earnings are taxed at lower rates. Plus it all depends on total income and deductions too. Same for state. Your 15% number is really 7.5 because every employer pays fica to match so self employed are only doing the same thing as if they were corporation. 300K after deductions, empoyee half fica on 103k, federal taxes prorated by brackets, state taxes---i would guess you keep about 160-170.
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