You have no idea what you are saying. But if you believe that most of us here are ignorant and illogical that's your problem.
At least make your illustrations a bit more honest and less emotionally extreme.
Well, I am going to throw the BullSh@t flag on that. AMT for "upper middle class" is going to cost you 31% in Federal Tax. Social Security is approx 7.5% (or 15% if you are self employed). Add in state and local income taxes (in NYC that would be 6% and 3.5% respectively). Add in real estate taxes (easily up to $20,000 a year for many NE and CA cities).
And I have not even addes in gas tax, sales tax, phone tax, transfer taxes, etc.
I can get to 50% in total taxes without breaking a sweat
You forgot Medicare taxes.
>>I can get to 50% in total taxes without breaking a sweat<<
Likewise.
What's even funnier is people paying $1,500 a month (or more) in mortgage interest so they can get the deduction and "save" $200 in taxes. ;)
At what income level does this kick in?
I just check my taxes for 2006 and the AMT worked out to just less than 16%.