What's your tax bracket?
An article in the Ledger today is practically gleeful as it informs us that Corzine paid $1.3 million in taxes on $11.8 million of income.
Last year, he paid federal taxes of $1.3 million on adjusted gross income of $11.8 million. His tax hit is probably significantly larger for 2005 because Corzine last year sold the final 400,000 shares he had retained in the stock of his former company, Goldman Sachs.Sounds great until you realize that his tax bite is 11%. What's your tax bracket?
posted by RBM @ 8:44 PM
2 comments
2 Comments:
3.6% this year, 6.2% last year on 12% higher Adjusted Gross Income (marginal rate on that income was ~25%)
Mine was higher than 11%, thanks to the AMT. But watch the complaining about Corzine not paying enough . . . his response may be to raise taxes on the "rich."
Post a Comment
<< Home