Quote:
Originally posted by Darren
so what are tax rates in the USA??
if u earn over 29,400 POUNDS in UK (About 50US dollars) the rate is 40%
WTF? 40% of earnings to the tax man?!?
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If you are self employed and single with no dependants or other deductaions - your federal tax would be:
$14,114 on $50,000
Some states have no state tax, but in MD - we pay about 7% depending on where you live. Sales tax of 5% on goods, property tax, and the like.
Someone making 50K a year in MD pays about $17K in income taxes.