“16% for the fed, 8% for the state and local, is the rough proposal.’
Sales tax or income tax?
That’s where I’m confused because I currently pay 7.25% sales tax (state and local), so at 8% sales tax would be an increase.
If the combines sales and state income tax is only 8$, then yes, I would see a drop.
And my current Federal tax is 11.8% so 16% would be an increase as well.
I’m probably looking at this the wrong way.
Like I said, I’m just a little confused about how this is going to work.
24% total! That’s the sum total of all the taxes allowed. That’s why I said “get the book”. It’s not wrote by some PhD trying to confound anyone, it’s straight forward, solid logic.
Enjoy