Should be closer to 50%. You hit a lot of limits way before that (sadly). A simple run of napkin math gives 3.7M net from 7M gross. 70k gross nets 43k, 700k gro

Should be closer to 50%. You hit a lot of limits way before that (sadly). A simple run of napkin math gives 3.7M net from 7M gross. 70k gross nets 43k, 700k gross nets 380k. I would assume 7M gives you more motivation to invest into reducing taxes than 70k do, though.