Can someone explain how to calculate the “The Tax Is” column of the U.S. Federal tax brackets?
How much tax do you pay in the US?
Your Income Taxes Breakdown
| Tax | Marginal Tax Rate | 2021 Taxes* |
|---|---|---|
| Federal | 22.00% | $9,600 |
| FICA | 7.65% | $5,777 |
| State | 5.97% | $3,795 |
| Local | 3.88% | $2,492 |
Is tax in USA high?
As a share of the economy, the United States is nowhere close to the “highest-taxed country in the world” and does not raise nearly as much tax revenue as other developed countries, many of which are in Europe.