Income: $45M
Fed Income Tax: 39.6% - $17.82M
Fed SSIP: 12.4% - $5.58M
Medicare: 3.2% - $1.44M
Calf State Income Tax: 13% - $5.85M
So, Phil makes a whopping $45M, but the government takes 30.69M of it. That's before we get to property taxes and fees, licenses, etc. The government bureaucratic drones make more off of Phil's talent and hard work than he does!
I'd shrug too if I were in his shoes.
Can you imagine the check that Rush has to write on $200mm/yr? Although FL has no state tax, he’s still paying a massive amount to the corrupt, criminal fedgov.