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.
posted by Quiddity at 8/11/2003 06:45:00 AM