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From: mrgofor@mmm.UUCP (MKR)
Newsgroups: net.taxes,net.legal
Subject: Re: Silly us
Message-ID: <618@mmm.UUCP>
Date: Mon, 17-Mar-86 09:41:11 EST
Article-I.D.: mmm.618
Posted: Mon Mar 17 09:41:11 1986
Date-Received: Fri, 21-Mar-86 06:36:06 EST
References: <513@kontron.UUCP> <750@ttrdc.UUCP> <624@sigma.UUCP> <433@ccivax.UUCP> <1171@mmintl.UUCP>
Reply-To: mrgofor@mmm.UUCP (MKR)
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Xref: watmath net.taxes:1122 net.legal:3138

>>A lottery winner actually won $1 million, and ended up with $20,000
>>"after taxes".
>
>I assume the lottery winner won $50,000 a year for 20 years, and ended up
>with $20,000 of the first $50,000 payment.  This may be too much of a tax
>bite, but it isn't obviously and absurdly so.
>

	What's the highest tax bracket in the US? I thought it was about
50% or so, but I may very well be wrong. Even with state and local taxes,
I am surprised that anybody only gets to keep 2/5 of their income. 

-- 
					--MKR

Sometimes even the President of the United States must have to 
stand naked.    - Dylan