Posted by cccp1014 on 5/27/2018 1:17:00 PM (view original):
Posted by tangplay on 5/27/2018 1:14:00 PM (view original):
Posted by strikeout26 on 5/27/2018 12:16:00 PM (view original):
Posted by tangplay on 5/27/2018 12:02:00 PM (view original):
Posted by strikeout26 on 5/27/2018 12:05:00 AM (view original):
Posted by tangplay on 5/27/2018 12:04:00 AM (view original):
Posted by strikeout26 on 5/26/2018 11:37:00 PM (view original):
https://taxfoundation.org/2017-tax-brackets/
https://www.google.com/amp/s/www.fool.com/amp/taxes/2017/04/27/2017-california-income-tax-what-you-need-to-know.aspx
Right, so the upper limit is 40%. Exactly what I have been saying.
No, because you're ignoring state income taxes.
We have been debating the federal income tax.
Nope, we have been the debating the amount that high income earners pay to the government.
I haven't.
Lets simplify this.
I make $10mil per year. I am taxed at 40%, so I take home $6mil. I give $500k annually to charity. How much more do you want me to pay?
Even if you make a billion dollars a year you don’t actually pay 40%.
But, yeah, I’d be cool with taxing 99% of all taxable income over $10M per year.
So if your taxable income is $11M, your take home in 2018 is $6,344,000.
If you make $12M, you keep $6,354,000.
$13M, $6,364,000. etc.