4 ms·
Unless you made a shitload of money I highly doubt your effective rate was 40%. The rate on the last x% of your money might have been taxed at 40% but most pla
by maukdaddy 16y ago
Unless you made a shitload of money I highly doubt your effective rate was 40%. The rate on the last x% of your money might have been taxed at 40% but most places have a progressive tax structure. Deductions should lower the effective rate further.
I'm speaking for the US, by the way.
- camiller 16y agoYeah, my combined marginal federal and state rates are like 33%, my effective rate after mortgage interest and charitable deductions was like 8-9%. I'm going to try to be more like Google though.... ;)
- pbiggar 16y agoIf he made shitload of money, he'd be doing tax mitigation of his own, and probably wouldn't pay 40% either.