7 ms·
In addition to the other responses, remember that US federal income tax is a graduated tax rate, so even at ~40% on 120k, you're only paying 40% on your income
by mattdeboard 11y ago
In addition to the other responses, remember that US federal income tax is a graduated tax rate, so even at ~40% on 120k, you're only paying 40% on your income over like 90k, lower tax rates for income in lower brackets.