2006-12-10 19:20:37 · 7 answers · asked by TradeShot 1 in Business & Finance ➔ Taxes ➔ United States
There are 6 basic tax rates for income tax.
So if your adjusted gross income (AGI) is the following, then you pay the rate below:
0 to 7,549 = 10%
7,550 to 30,649 = 15%
30,650 to 74,199 = 25%
74,200 to 154,799 = 28%
154,800 to 336,549 = 33%
336,550 and over = 35%
Depending on the state you may live in, there's also the State Income Tax and they vary from State to State, so if you would like to know what they are go to the bottom link for each individual State's income tax.
2006-12-10 19:35:38 · answer #1 · answered by Joonbug 3 · 0⤊ 1⤋
In the US there are a number of different taxes. If you're talking about federal income tax, that ranges from zero at low incomes to 35% for the really wealthy. Most people pay 15% to 25% after deductions - everyone gets to take some of their income tax-free - the amount depends on the number in the family among other things.
There's also a tax to fund social security and medicare that takes 7.65 % of income up to just under $100,000.
Some states and cities also have income taxes. And most states have a sales tax on purchases. There are also taxes on property that a person owns.
Overall, taxes here for an average person are probably around the 30% that you mention that you pay. If you're just talking about federal income tax, only a quite wealthy person would pay that much.
2006-12-11 20:42:50 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
There is no single rate. What you are talking about is a flat rate system, which is used in various parts of the world. The US has a progressive (meaning the more you make the more you pay). On top of the Federal taxes there are also progressive state taxes and if one is really unfortunate there are city taxes. Add to this sales taxes which are similar to value added taxes. Also there are property taxes. Taken altogether it is impossible to pick a number and say that it is the US tax rate. Still I think it is generally agreed that Americans pay less in taxes than others in the developed world.
2006-12-11 03:37:20 · answer #3 · answered by traveler01983 1 · 0⤊ 0⤋
It depends on income (your tax bracket). The threshhold to move to the 25% tax bracket is about $65,000.
Of course, we don't have national health care, so our taxes aren't as high. Those of us who do have health insurance pay for it out of our own pockets; 50 million people are uninsured.
2006-12-11 03:32:22 · answer #4 · answered by Anonymous · 0⤊ 0⤋
there's no fixed percentage... We should have that system but we don't. It depends on how much you make.. The middle class pay the most tax while the rich and the very poor pays less in percentage.
2006-12-11 03:30:29 · answer #5 · answered by professorminh 4 · 0⤊ 2⤋
It depends on how much you make. For 2006, if you're single the annual rates are:
10% -- $0 to $7,550
15% -- $7,550 to $30,650
25% -- $30,650 to $74,200
28% -- $74,200 to $154,800
33% -- $154,800 to $336,550
35% -- Over $336,550
2006-12-11 03:32:47 · answer #6 · answered by GatsbyGirl 2 · 0⤊ 0⤋
About the same. Depends on your income.
Your web page link doesn't seem to work.
2006-12-11 03:27:56 · answer #7 · answered by Just trying to help 3 · 0⤊ 0⤋