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Originally Posted by martinguerre
In fact, as has been mentioned, the indiv. tax rate doesn't go that high. So it isn't 60% of *your* income, that's for sure. 60% of the business's? Maybe...but i still have my doubts.
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The idea of a 'business' paying taxes is slightly askew. If you increase taxes due from a business 10%, where does that money come from? Either from the base employee salary pool, or they raise their prices to cover the cost.
So either the employees get raises next year, or the price point of the goods/services increase. So 'individuals' end up paying those taxes.