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Revision as of 16:45, 29 August 2026

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Tax, it isn't a dirty four letter word, but for many among us its connotations are far worse than any curse. It's been found that high tax rates generally relate to outstanding social services and standards of living. Developed countries, wherein the tax rate exceeds 40%, usually have free health care, free education, systems to appreciate the elderly and a bigger life expectancy than people lower tax rates.

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Owners of trucking companies have been known to get prison sentences, home confinement, and large fines beyond what they pay for simply being late. Even states could be punished for not complying with regulation?they can lose up to a whopping 25% of the funding of their interstate public.

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Because within the increasing tax rate better brackets, a reduction of taxable income at a higher bracket saves you more tax than exactly the same reduction to a lower mount. So let's compare the tax saving of contributing $1000 by a single individual with a $30,000 income with that of a single person with a $100,000.

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