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> I already pay nearly 50% of my income in taxes ...I am curious as to the math behind that. The highest federal income tax bracket in the US is 37%. Only inco
by AnIdiotOnTheNet 6y ago
> I already pay nearly 50% of my income in taxes
...I am curious as to the math behind that. The highest federal income tax bracket in the US is 37%. Only income over $523,601 (as of 2021) is taxed at that rate.
- kgwgk 6y agoPayroll tax, state and local income tax, property tax, sales tax... Not sure about "over 50%" but "nearly 50%" could be "over 40%".
- ryanSrich 6y agoFederal and State income tax alone bring it to 46.9%. Add in property tax and it’s over 50%. Also it’s not technically income, but there’s also cap gains tax that I pay almost every year. All in all, Americans pay an insanely high tax for what we get. Our tax dollars go to corrupt politicians that use the money on foreign aid and starting wars, defense contractors and military. It’s disgusting.