Income

I was doing some research on income and tax related items here in the US:

2006 numbers

113 000 000 families

19% of those families earn more than $100 000 a year (before tax, but that is almost the same as after tax if you're smart :-)

12.5% earn less than the poverty threshold (poverty threshold =+/-$20 000 for a family of four)

Median income = income level where half earns more and half earns less (does NOT equal "average" income)

Median income USA: $48 200

Median income in Arizona $44 700

Highest Median income State in the USA: New Jersey $60 000

Taxes in the USA:

Filing JOINTLY

Standard deduction for a JOINT filing is +/- $11 000.

A tax credit of $1 000 is provided for every child.

TAX BRACKETS

$0 - $15,650: 10% of the amount over $0
$15,650 - $63,700: $1,565.00 plus 15% of the amount over 15,650
$63,700 - $128,500: $8,772.50 plus 25% of the amount over 63,700
$128,500 - $195,850: $24,972.50 plus 28% of the amount over 128,500
$195,850 - $349,700: $43,830.50 plus 33% of the amount over 195,850
$349,700 - no limit: $94,601.00 plus 35% of the amount over 349,700

Example:

Family of 4 earns $100 000 a year.

They take the standard deduction: - 11000

89 000 taxable income

Tax: 8772.5 + 6325 = 15097.5

- 2000 (tax credit 2 children)

= 13097.5 tax = 13%

AND that is WITHOUT any extra deductions ...

The USA is a TAX paradise. Mijn gedacht!