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01-23-2013, 08:57 PM
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Sage
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Join Date: Sep 2008
Posts: 19,743
Thanks: 13
Thanked 6,113 Times in 2,715 Posts
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Quote:
Originally Posted by perrjojo
Yes, I do believe that he pays 62%
Under current tax rates, Mickelson would pay 13.3 percent in state income tax and 39.6 percent in federal income tax. That's 52.9 percent combined. Medicare and Medicaid is an additional 2 percent. The new health-care levy is .9 percent on earned income and 3.8 percent on investment income.
Now figure in gasoline tax, property tax, personal property tax, sales tax, etc, etc,etc.
Each of us probably pays FAR more in taxes than we realize.
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I'm sure he has a good accountant and doesn't pay anywhere close to 62%.
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