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Revisión del 22:54 4 oct 2024
Tax, it isn't a dirty four letter word, but for many sufferers its connotations are far worse than any bane. It's been found that high tax rates generally relate to outstanding social services and standards of living. Developed countries, from where the tax rate exceeds 40%, usually have free health care, free education, systems to appreciate the elderly and a bigger life expectancy than together with lower tax rates.
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Because of the increasing tax rate of upper brackets, a reduction of taxable income in a very higher bracket saves you more tax than exact reduction on a lower segment. So let's compare the tax saving of contributing $1000 by a single individual with a $30,000 income with a single person with a $100,000.
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