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Reply to "Is it even possible to be in a 60's percent tax bracket???"
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[quote=Anonymous]It is mathematically impossible to pay a 63% income tax rate, even including NY federal state and local taxes. If you include property taxes, it is mathematically possible since it is a tax without an offsetting income. But the math is absurd. His property tax bill would have to be 8 million dollars. And that means he would have to own 1.3 billion dollars worth of real estate in Rancho Santa Fe CA. His house is regrettably worth a more modest $7 million. So basically Phil Mickelson is mathematically, completely full of shit. But why should we let that get in the way of a good bullshit story?[/quote]
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