BTW...

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BTW...

Tom Brosz — 4/16/2005 7:38:53 PM (archived)

Although TurboTax apparently kacks out at over 9 million, I get the following results for taxes as a percentage of income (entered as self-employed income, and includes Social Security and Medicare. No deductions):

60,000............20 percent

400,000...........32 percent

1 million............35 percent

9 million............37 percent

The whole thread (13 posts)

"April 15th: You're getting screwed - Tax changes that missed the headlines impact your bottom line" - Bowser - 4/16/2005 6:57:28 PM
- The key is the "Social Security" + "Payroll Tax" combination - David F Mayer - 4/17/2005 5:34:56 AM
  - What the heck is a "proportionate amount?" - Tom Brosz - 4/18/2005 12:45:58 AM
    - Cap off contribution. Benefits should have means test. - David F Mayer - 4/18/2005 2:49:49 PM
    - re: I think that is exactly what he is proposing... I would go a step farther... - Scott Evil - 4/18/2005 1:22:57 PM
      - One problem with your idea - Larry J - 4/18/2005 6:51:46 PM
        
        So let them rich SOB's sell their property and move to the hills of Kentucky where the cost of living is much less! - Scott Evil - 4/19/2005 5:46:57 PM
- The key words here, of course, are "share of their incomes." - Tom Brosz - 4/16/2005 7:22:31 PM
  - The Man said - "some of the people ALL of the time". - Bowser - 4/17/2005 3:21:16 AM
    - Numbers are numbers. - Tom Brosz - 4/17/2005 3:50:57 AM
  - BTW... - Tom Brosz - 4/16/2005 7:38:53 PM
    - But those are facts Tom, we're ranting ideology here... Arf! (n/t) - p - 4/16/2005 8:26:51 PM
      - You are a caution, Phil. Good one!!!! (n/t) - Bowser - 4/19/2005 6:45:23 AM

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