[LINK] 60% tax rate (was software patents)

[rchirgwin at ozemail.com.au]

Brendan, for heavens' sake you hairy socialist, at least get a calculator.

X pays 30% of is personal income in tax.
X's company pays 30% of its corporate income in tax.

And 30+30 =60. Piece of cake...

RC
> 
> From: Brendan Scott <brendansweb at optusnet.com.au>
> Date: 10/03/2005 15:23:52
> To: Link <link at anu.edu.au>
> Subject: [LINK] 60% tax rate (was software patents)
> 
> Rick Welykochy wrote:
> > Deus Ex Machina wrote:
> > 
> >> sorry but since I pay well over 60% of my income in taxes, I have a 
> >> fundamental
> >> problem with more of my income going towards other peoples kids then 
> >> my own kids.
> > 
> > 
> > In find that hard to believe. You would have to be earning well over
> > $250,000 per annum to pay so much tax, including a GST component.
> > 
> > Even at $150,000 per year, with 10% GST, the effective rate is about 51%.
> 
> 47% is the highest marginal tax rate.  If all the money you spend is on GST leviable items (ie no unprepared food), that's 57% assuming no savings. Medicare...
> 
> Is it possible to get a tax rate of "well over 60%"? 
> 
> 
> 
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