4 ms·
It is 20% up to 37k, 40% after that through 125k, and 45% after that. The US federal income tax is graduated much more finely but hits 12% between 10k and 42k
by burnished 3y ago
It is 20% up to 37k, 40% after that through 125k, and 45% after that. The US federal income tax is graduated much more finely but hits 12% between 10k and 42k and 22% from there to 89k, and 24% until 140k.
This neglects any state income or sales tax as well.
- EduardoBautista 3y agoUS sales taxes are about half of most European countries, which have VAT.
- Dalewyn 3y agoJust stopping by to mention, for the non-Americans, that taxes as in the plural is important here: Sales taxes here in the US vary at the municipal, county, and state levels and any or all can apply towards your purchases at the same time.
- IIsi50MHz 3y agoFrom earlier HN threads, it seems that: - When you contact government offices to ensure you're paying the right taxes on the right things, it's very difficult to get a real answer. Many of them just outright do not know, and rely on "a good-faith effort". - The situation is so convoluted that their are specialist companies which sell you the idea that they can take care of it for you, yet want you sign a contract that says they're not liable for any problems.
- mgaunard 3y agoThe highest band is the only one that matters really, at least if we're talking about people that could freely choose to work in either country at top tech companies.
- badcppdev 3y agoWe are not concerned with people on high salaries. They can hopefully take care of themselves. Far more important to talk about low, average and median earners for I hope obvious reasons.
- burnished 3y agoNot really concerned about the people for whom the top bracket represents most of their taxable income. Even well paid developers have most of their income taxed below that rate anyway.