Quote:
Originally Posted by buzzy
erm actually we only pay a couple of % more than you americans
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It looks like anyone who makes over £34,600 gets taxed 40%. Compare that to the highest tax bracket in the US which is 35% if you earn $336,551 and above.
£34,600.00 is $46,853.63 is USD. In the USA you would only pay 25% taxes on that. We have 2 more tax brackets before you get to the highest bracket of 35%. Looks like you have to pay more taxes.
Tax Bracket In the USA.
* 10%: from $0 to $7,550
* 15%: from $7,551 to $30,650
* 25%: from $30,651 to $74,200
* 28%: from $74,201 to $154,800
* 33%: from $154,801 to $336,550
* 35%: $336,551 and above
Tax Bracket In the UK
Taxable Bands table Taxable Bands Allowances 2007-08 (£)
Starting rate 10% 0 - 2,230
Basic rate 22% 2,231 - 34,600
Higher rate 40% over 34,600