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To: Fledermaus

I just calculated it. A person who earns exactly $1,000,000 in salary in a year, without any deductions, pays $324,000 in taxes.

That’s an effective tax rate of 32.4%

Of course, that’s salary-based, and not capital gains-based.


32 posted on 01/24/2012 10:46:51 PM PST by Zeppelin (Keep on FReepin' on...)
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To: Zeppelin
If someone makes a Million a Year and they don't have any deductions, they are too stupid to make a Million a Year.

And speaking of Joe Biden, it looks like he generously gave a grand total of $326 to Charity last year, which he wrote off on his Taxes of course.

35 posted on 01/24/2012 10:53:23 PM PST by Kickass Conservative (Liberals, Useful Idiots Voting for Useless Idiots...)
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