Difference between revisions of "A History Of Taxes - Part 1"

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Revision as of 11:03, 10 September 2026


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Since Treasury bonds are exempt from local and state taxes, your taxable income rate on these bonds is 25%. The 'payroll' tax applies at a hard percentage of one's working income - no brackets. The employee, obtain a 6.2% of your working income for Social Security (only up to $106,800 income) and a person specific.45% of it for Medicare (no limit). Together they take an additional 7.65% of your income. There's no tax threshold (or memek tax free) involving income in this system.

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