[ebacon]

Originally Posted by d-ray657

The first one $2000. or 10%

The second one $2,000.20 or 10.0005% (with rounding)

The third: $2,000 + $6,000 + $15,000 + $10,000 = $33,000. That's $26.4%, or a considerably higher rate than the GOP candidates.

That is, assuming I got my pluses and minuses and guzintas right.

Actually, one can't really answer the question concerning the effective tax rate without knowing what is subtracted from total income to get to the taxable income. Also, I assume that this doesn't include the 4.2% (temporarily reduced from 6.2%) FICA tax that wage earners pay on the first $100K or so of income. Unlike the other incidences of determining taxable income, this is paid from dollar 1.

Oh, and then we're talking about taxable income, are we talking about passive income or earned income. Then we're changing the effective rate again. Of course, that's how Mitt paid 13%.

Regards,

D-Ray

D-ray,

Are you a Republican?