HUH ?

HUH ? :))

-- W James Brokenbourgh Custom furniture maker http://artisticwoodstudio.com/

Oh really? This isn’t politics is it? I consider this post deleted if it is.

-- I would drink a river of the kool aid before I took the smallest sip of the tea...

Only if you don’t work and just have capital gains. Us self employed working stiffs pay closer to 50% ;-((

-- "some old things are lovely, warm still with life ... of the forgotten men who made them." - D.H. Lawrence Wake Up America!! Please read; http://www.commondreams.org/view/2009/01/26-0

Just trying to figure out how all the rest of us can use the 13% tax evasion claim, as someone else did. :o))))

-- *Arachnoleptic*: The frantic dance performed just after you've accidently walked through a spider web.

Incoroprate, move your home office to the PO box building in the Cayman Islands that most corps use, push paper and do not do any physical work in the US.

-- "some old things are lovely, warm still with life ... of the forgotten men who made them." - D.H. Lawrence Wake Up America!! Please read; http://www.commondreams.org/view/2009/01/26-0

Its called a composite tax bracket.

Lets make an example with a single guy taking just the standard deduction of $5500 (I think thats the right amount)

The rates are listed below.

Tax Bracket Single
10% $0 – $8,700
15% $8,700 – $35,350
25% $35,350 – $85,650
28% $85,650 – $178,650
33% $178,650 – $388,350
35% Over $388,350

Say Bob made $100k last year, you subtract the standard deduction of $5500 and that leaves $94,500.

Of that the first $8700 is taxed at 10% so he pays $870 on this
The next $26650 is taxed at 15%, so he pays $3998 on this
The next $50300 is taxed at 25% so he pays $12575 on this
and the final $8900 is taxed at 28% so he pays $2492 on this.

This means Bob paid $19, 935 so he paid 19.935% in taxes, and that would be his composite tax rate.

HUH ? :o))))

-- *Arachnoleptic*: The frantic dance performed just after you've accidently walked through a spider web.

I think that this has something to do with religion.

-- "Too much hurry ruins the body. I'll sit easy … fan the spark" - I. Anderson

Money – the root of all evil nastyness is upon us. ;o)

-- *Arachnoleptic*: The frantic dance performed just after you've accidently walked through a spider web.

Canada has a 33% income tax, make $1000 or $100,000 still 33%

GMan – Is that straight across the board, no deductions ?

-- *Arachnoleptic*: The frantic dance performed just after you've accidently walked through a spider web.

Very few deductions.
But you can walk in a Hospital anytime for anything, having a baby, having a knee or hip replacement, a heart transplant at $0 charge for everybody.

You got room up there for one more?

-- *Arachnoleptic*: The frantic dance performed just after you've accidently walked through a spider web.

Sure no problem anytime.

To give you an idea I’m on my pension which gives me a little over $60,000 and I pay $6000 to $8000 in taxes.