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30%? That's far from the breaking point I am afraid. I'm from Belgium and graduated with a good job - from day 1 I was in the highest tax bracket: 50%. This bra
by peterjancelis 13y ago
30%? That's far from the breaking point I am afraid. I'm from Belgium and graduated with a good job - from day 1 I was in the highest tax bracket: 50%. This bracket starts at 31K or so btw, nothing extraordinary.
- saosebastiao 13y ago30% for social security and medicare/medicaid. Income taxes on top of that. It was hyperbole, but not by much.
- muzz 13y agoWhere do you get this number from? Social security tax is 6.2% of the first 113k of income, 0 after that Medicare is 1.45% for income under 200k, 2.35% for income above 200k. At no income level do these add up to anything more than 7.7% http://ssa-custhelp.ssa.gov/app/answers/detail/a_id/240/~/social-security-and-medicare-tax-rates http://ssa-custhelp.ssa.gov/app/answers/detail/a_id/240/~/so...