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In 2020, the Social Security Wage Base was $137,700 and in 2021 was $142,800; the Social Security tax rate was 6.20% paid by the employee and 6.20% paid by the employer. [1] [2] A person with $10,000 of gross income had $620.00 withheld as Social Security tax from his check and the employer sent an additional $620.00. A person with $130,000 of ...
German income tax rate in 2010 as a function of taxable income. The rate of income tax in Germany ranges from 0% to 45%. The German income tax is a progressive tax, which means that the average tax rate (i.e., the ratio of tax and taxable income) increases monotonically with increasing taxable income.
The Gini coefficient is a number between 0 and 1 or 100, where 0 represents perfect equality (everyone has the same income), while an index of 1 or 100 implies perfect inequality (one person has all the income and everyone else has no income). Income ratios include the pre-tax national income share held by top 10% of the population and the ...
Utah collects personal income tax; since 2008 the tax has been a flat five percent for all taxpayers. [174] The state sales tax has a base rate of 6.45 percent, [175] with cities and counties levying additional local sales taxes that vary among the municipalities. Property taxes are assessed and collected locally.
It is the only middle-income economy and the only newly industrialized economy in the top 30. [40] [41] China is also the world's largest high technology exporter. [42] As of 2021, the country spends around 2.43% of GDP on advance research and development across various sectors of the economy. [43]
Medicaid is the largest source of funding for medical and health-related services for people with low income in the United States, providing free health insurance to 85 million low-income and disabled people as of 2022; [3] in 2019, the program paid for half of all U.S. births. [4]