LemmyQuest@lemm.ee to Political Memes@lemmy.world · 4 months ago45%lemm.eeimagemessage-square36fedilinkarrow-up11arrow-down10
arrow-up11arrow-down1image45%lemm.eeLemmyQuest@lemm.ee to Political Memes@lemmy.world · 4 months agomessage-square36fedilink
minus-squareSkua@kbin.sociallinkfedilinkarrow-up0·4 months agoI think you’re missing what an “effective tax rate” is. If your country’s income tax is 0% on the first 10k, 10% on the next 10k, and 20% after that and you earn 40k, your effective tax rate is: 0 on the first 10k 1k on the next 10k 4k on the remaining 20k 5k total out of 40k = 12.5% effective tax rate The wiki page does not show that data.
I think you’re missing what an “effective tax rate” is. If your country’s income tax is 0% on the first 10k, 10% on the next 10k, and 20% after that and you earn 40k, your effective tax rate is:
The wiki page does not show that data.