4 ms·
The tax brackets are the point i'm making. Australia literally has 0% for the lowest bracket whereas the USA starts at 10% even on the lowest wage earners. The
by AnotherGoodName 6y ago
The tax brackets are the point i'm making. Australia literally has 0% for the lowest bracket whereas the USA starts at 10% even on the lowest wage earners. The difference is made up for in the higher brackets. This boosts median wealth for a nation whilst it doesn't affect the average wealth per person. Having the median wealth higher so that there's a functioning middle class is a good thing.
- iso1210 6y agoAus median wage AUD89,000, tax on that seems to be $20,472.00 - 23%, plus $1780 medicare US median wage USD49,764, Fed + CA tax is $9,611.02 - 19% Median wage in Australia is far higher than in America seems more important than the tax rate at the 50th percentile