I was thinking about Federal Income Tax only. I realize there are many more taxes that we have to pay - state income tax, gasoline tax, sales tax, property tax, etc., but just looking at Federal Income tax - what is the total amount that the Feds kept of your money divided by the total amount of money that you earned this year - that's your effective Federal Income Tax rate.
Because of our progressive Federal Income Tax system, NO ONE pays more than 36% of their income in the form of Federal Income Tax, and most of us pay much less than that.
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Today's Featured Article - Third Brush Generators - by Chris Pratt. While I love straightening sheet metal, cleaning, and painting old tractors, I use every excuse to avoid working on the on the electrics. I find the whole process sheer mystery. I have picked up and attempted to read every auto and farm electrics book with no improvement in the situation. They all seem to start with a chapter entitled "Theory of Electricity". After a few paragraphs I usually close the book and go back to banging out dents. A good friend and I were recently discussing our tractor electrical systems when he stated "I figure it all comes back to applying Ohms Law". At this point
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