2007 Taxes Taxes

asmok

It's hard to calculate how much (or little) taxes you pay overall since everything have taxes on it.

I just like to think that once it's deducted off my pay check, it's gone.... and I'm happy to get any back when I file my taxes.

MyOMy

Call me sloppy if you like. I always think that every dollar you earn, the govenment takes at least 40 cents from all the visable and invisable taxes it is imposing.

When you are too clear of how much you pay for the taxes, you live in misery.   Lik Gor, don't find out too deep OKay , it's unhealthy.

orange

an accountant from my company made up a table showing actual tax rates after personal tax credits similar to Lik's

for someone making $100k in 2008, the actual tax rate is 26.7%
for someone making $50k, it's 19.0%

ppl often mistake marginal tax rate (or "incremental") vs. actual tax rate .. so ppl assume that the guy making $100k pays 40% tax when in fact he pays 26.7%.  

[ 本帖最後由 orange 於 2008-5-21 10:30 編輯 ]

shutterbug

you think it's low tax rate...some people think it's high lei....

pigheadbone

how come some numbers are linear approximated?
(e.g. 45k, 55k, 65k, ...)

Guy

so... did my final projection of Max portion of you income will be taxed

guess what .............
it is 43.7% of your total income up to $10 billion

it's like a log diagram

[ 本帖最後由 Guy 於 2008-5-11 20:09 編輯 ]

RayRay

Thank you for sharing the information. Who is right and who is wrong ?

Guy

that is what the trend of tax payable (before tax claim and deduction etc) and income left over

X is total income before tax

if somehow you have income below the trend line..... you are actually paying less taxes