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RE: The Insidious Wage Deflation

in LeoFinance3 years ago

Here for low income earner its starts from 5% then next slab 20% and third is 30% but its not flat.. means if you are in 30% slab that means for some portion you will pay 5% then for some portion 20% and for rest of portion 30%
And if you are in high earner then it can increase upto 40%...

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That's still a pretty big percentage once you start earning a lot, here if you earn less than $430 a month you don't have to pay income tax though, not that you can really live off that