Walmart

[Bravus]

Here's the equivalent US tax table:

$0-$7,550 10% of the amount over $0

$7,550-$30,650 $755 plus 15% of the amount over 7,550

$30,650-$74,200 $4,220.00 plus 25% of the amount over 30,650

$74,200-$154,800 $15,107.50 plus 28% of the amount over 74,200

$154,800-$336,550 $37,675.50 plus 33% of the amount over 154,800

$336,550-no limit $97,653.00 plus 35% of the amount over 336,550

Lower taxes over all, higher limits on the various ranges, no 'tax free threshold' at the bottom of the scale, but the general principles are the same. Note that this excludes state taxes, which we don't pay in Australia and which are levied at various rates in the US.

Here's a table for those: http://www.taxadmin.org/FTA/rate/ind_inc.html

[Dr. Shane]

Quote:

the top marginal income tax scale is not what they pay on their whole income, but on the top portion

Yes, forgive me for not mentioning that. I should have.

[Dr. Shane]

In the US we have standard deductions. For a single person it is $5,150, Head of household is $7,550, Married is $10,300. So that is automatically deducted from a person income before it is taxed, unless they itemize. Plus low income people have the earned income tax credit which, when combined with the standard deduction, makes most, if not all, in poverty tax exempt.

[Bravus]

Ah, OK, yeah, you handle that tax-free issue differently, but it's still there. Thanx for the clarification.