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 - An AC Model M Crawler - by Anthony West. Neil Atkins is a man in his late thirties, a mild and patient character who talks fondly of his farming heritage. He farms around a hundred and fifty acres of arable land, in a village called Southam, located just outside Leamington Spa in Warwickshire. The soil is a rich dark brown and is well looked after. unlike some areas in the midlands it is also fairly flat, broken only by hedgerows and the occasional valley and brook. A copse of wildbreaking silver birch and oak trees surround the top si
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