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Remember; the "tax bracket" would not only include federal, but state income and local if necessary (ala NYC for example).
Two years ago, I bet a guy who should have known better, that he was paying out more than 50% of his salary in taxes. He was. Where the tax bracket cited by the CPA is only income taxes, when one adds in sales tax, value added tax, the taxes included in pricing paid by the manufacturer and shipper and distributor, it is a wonder that you get ten cents on the dollar.
Point being, the old song from the 30s is correct
"The rich get richer while the poor get poorer"
Supe..I do not agree. That waitress should also be planning for her eventual future. A so-called menial job does not mean the person is incapable of amassing wealth. If that were the case.....Well, we will not get into politics!!
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Bob S. former owner of a 1984 silver 944
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