A moment in history


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  1. How very descriptive – nothing much has changed! Thanks for the memory

  2. I guess you get rich in Australia at a lower income level than in the US. 😉

    • If I knew US income tax rates, perhaps I could wink you back.

      What I can say is that you get rich at even lower levels in South Korea. And that I can wink! 😉

      • What they are now is probably irrelevant as Obama is bound and determined to raise them. But what HE says is that if you earn over $200k (single) or $250k (married), you are rich!

        Does Australia have deductions (like for children and home mortgages)? The reason I ask is that if the answer is no, then the only real comparison can be made from the rhetoric of Obama. Since our top “rate” is only 38%, but once you go over the “rich” level, you lose your deductions so the effective top rate is about 45% (federal), same as yours. But of course that 38/45% rate does not include FICA and Medicaid (15.3% on top of that). Nor State and Local income taxes (some states and localities do not have income taxes).

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