| Topic Name: |
New York City |
| Message Name: |
more like 35% if you |
| Date Posted: |
04/27/2000 |
| In Reply To: |
The flaw to your logic is that analysts, making $40-45 are not taxed anywhere NEAR the 40% tax bracket..closer to the mid 20's%.
Also, you forget that analysts begin in July, and the tax year ends in December. So, an analyst, as far as the government is concerned, will earn only 20K in their first year; however, they have been paying taxes at the 45K rate. Thus, anaylsts will get a nice tax refund at the end of the year for overpaying. It is in the second year (Jan - July), when they get their bonus, that the tax bite will affect them. But, by then, they will have received a 30K check for bonus (pretax) and won't be poor any longer. |
| Message: |
more like 35% if you throw in Fed taxes, State, City, Medicare and SS taxes
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