Quote:
Originally Posted by 12clicks
lets play even further.
from the chart, your bracket pays 3% (giving you the benefit of the doubt that you're in the 3rd quintile.
so how ever you want to cut it, your betters are paying percentage wise, about 6x more than you. any way you slice it, you don't pay nearly as much percentage wise or actual dollars than the top 1%, 5% or 10%
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I wish I paid 3%... that would be nice.
I pay self employment tax right off the top with no deductions (because I can't afford to pay $1250/month for major medical coverage after taxes) @ 15.3% before we even get to income. Granted, I get to write 50% of that off of my income tax. I paid 27.8% effective rate in 2010 including self employment tax in federal taxes. This will change because I started an S Corp but I will still pay a lot.