12th Doctor
supersoulty
Atlas Star
Posts: 20,584
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« on: July 31, 2008, 01:02:12 PM » |
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This is how I would do it.
Basically, the highest rate on incomes of up to $1,000,000 would be 35% (which I would have kick in sometime around 500k). Once you get up to $1,000,000, you would then be taxed 50% on every dollar you made over that amount, which would be treated as a seperate income. In otherwords, if you made $1,500,000 last year, you would be taxed $350,000 on the first million you made, and then an additional $250,000 on the $500,000 remaining, for a total of $600,000. If you made $2,000,000, then your total would be $750,000 and so on.
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