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Politics

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Tax Cuts for the Rich?

I’m sick and tired of hearing and reading left wing politicians, media commentators and others whining on about tax cuts for the rich. How about some facts:
Individual 1

Earns $40,000 per annum
Pays tax $7,640
Effective tax rate 19.1%

Individual 2

Earns $100,000 per annum
Pays tax $29,540
Effective tax rate 29.5%

Individual 2 earns 2.5 times more than individual 1 but [...]

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