Monday, August 11, 2003

Schwarzenegger's income taxes:

From the New York Post:
The muscle-bound mogul raked in more than $31 million in 2000, then pumped up his earnings with another $26 million the next year, according to the just-released records.

But not all of that dough filled the former body-builder's personal coffers.

Schwarzenegger paid more than $15.4 million in federal taxes for both years. He also paid $4.6 million in California state taxes.
15.4 / 57 = 27   % (federal income taxes)
  4.6 / 57 =   8.2% (state income taxes)

These are rates very similar to those that middle/upper-middle class pay. Looks like we already have a flat tax.


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