>>>
>>>Ours is like 20-22% on the first £4,500 - £32,000
>>>and 40% on everything over that.
>>>
>>>or something like that. On top, we pay national health insurance.
>>
>>Does it include local taxes, if you have any?
>
>No, they depend on the area you live and the value of the house. At present, for me, that's some £1,000 or so a year.
>Please note, the 40% tax is ONLY on those earning ABOVE the higher tax threshold, not on the WHOLE amount, just cos you've gone over it. And it only applies to your TAXABLE income. So, I got the figures above wrong (changed with the last budget):
>
>1st £5,035 - tax free
>Next £33,300 - 22%
>All earnings over £38,330 - 40% (That's like some $70,000-odd)
>
>What's the score in the US then?


Hmmm, we have so many loopholes in the taxes, it depends. I have always had a consulting business on the side (last 17 years anyway), plus a business building houses or remodeling, and other things, and then the regular job. I took/take advantage of as many of the deductions as I can, (I know what the government does with the money) and I have managed to keep my taxes down to probaby 15% or less. Home office deductions, business expenses on the cars (my wife sells ebay and we have rental property). All told, I usually make around $100k per year.

So, the bottom line is, it depends....