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Economy/Business / Re: Biden Calls for Record-High Tax Rate, Just a Few Points Shy of 50%
« Last post by Hoodat on Today at 02:17:40 am »It is not based upon gross receipts but IRA taxable income/take home pay of $1 million or more. Forbes came out with an article today and there are so many asterisks and caveats-get out of jail conditions. in the bill it will only affect a small amount of people.
Here is your post again:
Jeff Bezos does not pay an effective rate of income tax of 8%. His effective rate of income tax is almost certainly around 40%.
You are delusional if you think Bezos is paying 40% in taxes .
Federal Income Tax - 37%
Medicare Tax - 3.8%
Total - 40.8%