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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: michael97123 who wrote (461160)	3/4/2009 4:24:36 PM
From: Tenchusatsu	Read Replies (4) \| Respond to of 1578132

Michael, > I know that some payroll deductions are being phased out at that level of income but i dont think it turn 39% rate into 54%. The actual increase the employee sees will be 7.5 percentage points, which means the effective rate for income above $250K will be 46.5%. But the employer also has to match that 7.5%, and that will effectively restrict the freedom the employer has to increase salaries beyond $250K/year. Especially for the self-employed. Let's not forget about state and local taxes. In California, that's going to be an extra 9 percentage points, IIRC. This was something that was plain and clear to me during the 2008 campaign. This should have not come as a surprise to anyone. Anyone who thought Obama was simply going to "roll back the Bush tax cuts" is fooling himself. Tenchusatsu