I was thinking about Federal Income Tax only. I realize there are many more taxes that we have to pay - state income tax, gasoline tax, sales tax, property tax, etc., but just looking at Federal Income tax - what is the total amount that the Feds kept of your money divided by the total amount of money that you earned this year - that's your effective Federal Income Tax rate.
Because of our progressive Federal Income Tax system, NO ONE pays more than 36% of their income in the form of Federal Income Tax, and most of us pay much less than that.
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Today's Featured Article - Two-Brush Generators - by Chris Pratt. Whether for product liability or because the aftermarket parts and labor business is lucrative, this concept is disturbingly prevalent. Fortunately when you step into your shop and make that jump 50 years back in time to work with your old tractor, this concept goes out the window. Even so, when it comes to the charging system, people quickly revert to this idea and start replacing the major components one at a time until it works. The reason you don't find any decals in your replacement set wit
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