I have a question. This may seem stupid to many people, but tax law is one area you put everything I know on the back of a postage stamp. So here goes, does the current tax rate and the one you are proposing go for total income or last dollar earned as it does in the US.
For example, would it be 60% of 2.5 mil or would it be 60% on the last dollar earned between 1 mil and 1 dollar and 2.5 mil.
Just wondering.
They're marginal rates, so it would be 60% for income between 1 and 2.5 million, yes.
Thanks. When it comes to taxes, I really need it spelled out. Feel a little stupid that it was that easy.
