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I'm working through my income tax forms, and I just realized something amusing/frightening: for the lowest income bracket, the federal capital gains tax rate (5%) is smaller than the Massachusetts capital gains tax rate (5.3%)! In the past, my state income tax has always been less than half of my federal income tax, but because such a large portion of my 2003 income was capital gains (and my earned income was very small, consisting only of 6 months of grad student stipend), my effective income tax rate (i.e. fraction of adjusted gross income) is 4.6% state and 6.0% federal. That's just wacky!
Hm, I guess this means less of my money went to national defense (e.g. invading Iraq) and more of it went to local schools (and the Big Dig?). That's fine by me.
[I bet an enterprising reader can reverse-engineer my adjusted gross income from the above data. I'd offer a prize to anyone who can figure it out (within, say, 5%), but I have to pay my tax bill in the near future so all you'll get is the pride of seeing your username in my journal...]
Hm, I guess this means less of my money went to national defense (e.g. invading Iraq) and more of it went to local schools (and the Big Dig?). That's fine by me.
[I bet an enterprising reader can reverse-engineer my adjusted gross income from the above data. I'd offer a prize to anyone who can figure it out (within, say, 5%), but I have to pay my tax bill in the near future so all you'll get is the pride of seeing your username in my journal...]