[Henrietta]

Not to make you feel worse, Poly ol' boy, but that 39.1% rate is really 41.3%. You see, when you hit a certain income bracket, not only do they start taxing you more, but they also start taking away your deductions! So the real effect of this is that your tax rate is 41.3%

[Polybius]

Not to make you feel worse, Poly ol' boy, but that 39.1% rate is really 41.3%. You see, when you hit a certain income bracket, not only do they start taxing you more, but they also start taking away your deductions! So the real effect of this is that your tax rate is 41.3%

Yeah....Our CPA goes through each deduction worksheet and then says, "But that's irrrelevant because you can't take that deduction at your income level."

I've never been masochistic enough to do the math on the effective tax rate though. Ouch!! :-(