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Re: AOC Proves Again Why She’s an Idiot

Posted by AlM on Tue Sep 14 20:42:04 2021, in response to Re: AOC Proves Again Why She’s an Idiot, posted by Easy on Tue Sep 14 20:22:39 2021.

By me neither. I doubt he's telling the truth.

For married filing jointly, federal tax is 24% or less up to 326K, and NYS is 6.85% or less up to 323K. And that's only the top dollar; lower dollars are taxed less and there's a 24K or so federal standard deduction before any tax gets levied at all.

Social security is 6.2%, but only up to 143K, then it goes away. Medicare is a flat 1.45%. He doesn't live in NYC so he has no local tax.

So there's no way either the average tax or the tax on the top dollar is 40%. If he's earning exactly 143K so that all his pay is subject to social security tax, then after the standard deduction he'd have 22% federal, 6.41% federal, 6.2% social security, and 1.45% medicare on the top dollar, or about 36%.

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