Red Dawn
Senior Member
I don't ever remember a 49% tax bracket. Please post a link to prove this.
I think that 49% number is something that is picked up off rightwing website, and then parroted as truth.
All I can say is, if this guy is paying 49%, he/she is a fool. I would suggest going to a good tax accountant, to lower your tax liablity. Given the number of deductions, tax shelters, tax credits available, no one should be paying 49%.
I think my tax burden for federal and state income tax rarely exceeds 12 to 15% of my gross income. Probably less than that, but I'd have to check. Even if you throw in sales tax, gasoline tax, and payroll tax, I seriously doubt the net tax liability is 50%.