4 ms·
SP500 companies don't pay anything while Joe in montana whom gets by with his family on 40K a year pay 35% or whatever the bracket is. law is the law and they
by 3327 10y ago
SP500 companies don't pay anything while Joe in montana whom gets by with his family on 40K a year pay 35% or whatever the bracket is.
law is the law and they are not breaking it but its time the IRS crackdown on this practice.
- tedunangst 10y ago40K pays an effective rate of 11%, in case you were wondering.
- jessaustin 10y agoDoes that vary by e.g. family size?
- tedunangst 10y agoSomewhat. Dependency deduction is relatively small.
- nightski 10y ago11% effective federal, some state taxes, some property taxes, some sales taxes, etc... I'm not saying it is by any means 35% but just quoting 11% is not entirely true.