If you earn $50-200k, they you’re in the 22-24% federal tax bracket, but probably pay 15-20% Federal income tax. Plus 7.65% payroll tax (also federal). Plus 5-10% state tax. Some cities have an income tax. But yeah: 25-35% total tax burden is pretty common for middle income people.
If you earn $50-200k, they you’re in the 22-24% federal tax bracket, but probably pay 15-20% Federal income tax. Plus 7.65% payroll tax (also federal). Plus 5-10% state tax. Some cities have an income tax. But yeah: 25-35% total tax burden is pretty common for middle income people.