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Parakeetist's avatar

Amen. Praise be to the Great Birb.

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rtpoeman's avatar

Keep in mind, it's only the TOP rate that's 90%.

Rough example:

Everything below $1 million is taxed at 10%, everything above $1 million is taxed at 90%. You make $1,000,001. You pay 10% on the first million, and 90% on that one dollar. Total tax liability: $10,000.90 - NOT $900,000.

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