Comments by "Guilherme Sales Ferreira da Costa" (@guilhermesalesferreiradaco2934) on "How To Avoid Business Failure" video.

U can be rich and pay an effective rate around 30 in the US. For example, assuming you're single and a 500k income which sets u on the 1% of earners, if u live in zero tax state u'd be paying an effective tax rate of 29.03% or 32.79% when u account for FICA. Even if your income was 10M and assuming the same conditions you're effective rate would be bellow 40% even when accounting for FICA. That said it's not only possible but likely that someone paying 45% is rich
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@usernameryan5982 those are not income taxes. Still the point is even so the highest federal rate is 37% u don't pay 37%, u pay 37% on the income above half a million which less than 1% of the population has. Please do not mistake nominal rates for effective rate. Unless half a million is only a tiny fraction of your income your effective federal rate is nowhere near 37%. That said you're not paying half of your income in tax in the US like u would be in Europe where nominal tax rates are not so different, but effective rates are. While in the US only half a million in income sets u in the top nominal rate, in Europe someone making low 6 figures pays half of it in tax
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