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I've been thinking the same thing.
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What kind of random question is that?
Here, I'll post a play-by-play of what will happen when I post what ring I got: 1. I post the ring. 2. The1 boasts about how he makes $500k a year and could buy a ring ten times bigger/better than it for all 25 of his girlfriends. 3. God kills all of the kittens in the world because The1 wanks so much. Now that I've made that prediction, I'll post the ring in my "I'm engaged" thread a bit later. |
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God can be a right mean bastard sometimes. :(
How much tax would one have to pay in America if you were earning $500,000 a year? |
Let's look.
Income tax rate (or tax bracket) - The percentage of tax one pays based on one's earnings. Because the federal income tax is progressive, those who earn the least are taxed at the lowest rates, with some paying no tax at all. The more a person earns, the higher the percentage of earnings that he or she pays in income taxes up to a point. In general, federal income tax rates in the U.S. vary from 10 percent to 35 percent. 35 percent+state income tax+county/local (I forget if they do or don't do income tax). Depends on the state and city then. California has a 9% income tax rate so that'd be 44%. So at least, in California, $220,000 in taxes annually. That's without figuring in any local/county taxes. |
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