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Politics : Formerly About Advanced Micro Devices
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To: i-node who wrote (397410)7/9/2008 2:46:55 PM
From: Alighieri  Read Replies (1) of 1575901
 
That $195K of that $300K is spent on taxes.

Look, the tax tables for this married fellow say the following:

For 300K income, he pays 43K + 33% of income above 164K. That's a total fed income tax of 88K, or 29%.

So, 29% + 20% (FICA + Medicare)= 49% of taxable income.

Now, there is not a single state that charges 10% income taxes. The highest is Vermont, with 9.5. The lowest is zero in more than one state. Lets' assume he is a Colorado resident, he pays 4.63%.

He's up to 53.6%.

If he is reporting 300K in taxable income, this dude makes a lot more than that in actuality...he is clearing a lot more than you say he is.

You are spinning negative big time...

Al
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