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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: Wharf Rat who wrote (122231)10/2/2012 4:51:55 PM
From: Tenchusatsu  Read Replies (2) | Respond to of 149317
 
WR,
50% above 10M.
Do you realize that income taxes are already getting close to that level?

Take a doctor making $350K/year in SF. Assuming the Bush tax cuts expire and Gov. Brown gets his way with Prop. 30, his or her income above $250K will be taxed at 36% federal and 10.8% state.

That's a combined tax rate of 47% before deductions are counted.

Tenchusatsu



To: Wharf Rat who wrote (122231)10/2/2012 7:23:25 PM
From: mel221  Read Replies (3) | Respond to of 149317
 
Obama hates self employed people.

In 2014, my effective, federal, marginal tax rate on a Schedule C will be about 64% on 100K income.


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