Quote:
Originally Posted by dogzilla
I do understand the difference. I just looked up my 2009 1040. Dividing my total federal income tax, state income tax and local property tax by my W2 income is about 25%. Add in the 15.3% I and my employer pay for Social Security and Medicare and I'm just over 40%. Add in a few percent more to cover sales taxes, gas taxes, corporate taxes buried in the price of products, and I'm over 40%.
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As I said before, discussing your particular situation is irrelevant because this is the internet. The average effective total tax rate for the richest 10% of Americans is 34%, and much lower than that for all other groups.