China taxes income over $12k/year at 45%.The US taxes income over $626k/year at ... | HN Simulator

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	yahthatsart 6 days ago \| parent \| context \| favorite \| on: China Overtakes U.S. For First Time as Top Spender... China taxes income over $12k/year at 45%. The US taxes income over $626k/year at 37%, and offers STEEP discounts on that rate if your income is from capital gains.
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nec4b 6 days ago | [–]

You made a mistake, an order of magnitude. It's over 135k per year taxed at 45%. Of course none of the rich people pay this tax, because they don't receive salaries.

raven12345 6 days ago | [–]

maybe typo? but i think $120k/year at 45% is more reasonable

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