If you are making about $100,000 a year, you are probably paying a lot more than 40% in taxes.
First off, 15.3% of every dollar you earned is taxed for SS. Next the federal income tax on that (single) is $21,720 - or 21.7%. You've already hit 37%. Then you have state taxes - my state is roughly 6%. So the government has already taken 43% or $43,000 of you income.
Lets say you don't save a dime of your income and spend it all on disposable products (food, clothing, cars - etc...) the sales tax rate here is 6.2% to 7.8% so you'll pay another $4000 in sales taxes - now of your $100,000 in income taxes you've paid $47,000 to the government or 47%. That doesn't include your property taxes on your home or car - if they are like mine that's another $3000 easy.
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Today's Featured Article - The Ferguson System Principal An implement cutting through the soil at a certain depth say eight inches requires a certain force or draft to pull it. Obviously that draft will increase if the implement runs deeper than eight inches, and decrease if it runs shallower. Why not use that draft fact to control the depth of work automatically? The draft forces are
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