Friday, July 15, 2011

how much is income tax on earnings in america ?

its 20 % in the UK which i think is really bad, someone earning 16k will pay over £3000 a year tax and insurance, i know we have NHS Healthcare but if your working you still have to pay for prescriptions & dental treatment.
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It depends on how much you make and what your filing class is. If someone earned $16,000 (US)they would have to pay 15%, however this is also before deductions. Say this person has 4 children - then they wouldnt have to pay anything and they would probably get money from the government instead due to the Earned Income Credit for people with low incomes and children. The lowest tax rate is 10% and the highest is 35%. You would have to make over $372,951 to be in the 35% bracket. Currently I live in Canada and we have to pay 48% this year (so much for "free" health care!)
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