3 ms·
It's 40% on earnings above around 45K, below that it's 20%
by shaydoc 9y ago
It's 40% on earnings above around 45K, below that it's 20%
- mbell 9y agoThat is still extremely high depending on where you are coming from. The US also uses a marginal tax system and the highest bracket is 39.6% and starts at ~$425k (varies based on how you are filing). ~$38-90k bracket is 25%.
- ninjaroar 9y agoYou have to add in state tax if you comparing against the US. (Not all states have an income tax, but California does have one)
- valuearb 9y agoAnd 15% federal payroll taxes
- noir_lord 9y agoYou don't pay any tax on the first 11500 either. So on 44999 You'd be paying 20% of (44999 - 11500) so 6700 on 44999 (effective rate been 14.8%).
- shaydoc 9y agoexactly... its not that bad! includes free healthcare! and in northern ireland, free prescriptions!