Mortgage Calculator - Armey Tax Calculator

Armey Tax Calculator

Wage income
Filing Status
Number of Dependents
Flat Tax Rate
(Keeping Gramm 1% lower than the others)
Fill in below so your taxes will be calculated:
Non-Wage income (Int./Div.)
Capital Gains (& Distrib.)
Mortgage Int., Charitable Contrib.
Other Itemized Deduct. (State/Local Tax, Medical, etc.)

Only income above $ 22700.00 would be taxed (Armey) Your Armey Flat Tax would be: $ 3791.00 Only income above $ 26200.00 would be taxed (Forbes) Your Forbes Flat Tax would be: $ 3196.00 Only income above $ 27000.00 would be taxed (Gramm) Your Gramm Flat Tax would be: $ 3120.00 Under Current Taxation Laws: Gross Income = $ 46500 Deductions = $ 7000 Exemptions = $ 5000 ($2500/person incl. self for 1995) Taxable Income = $ 34500 Tax Bracket = 15 % Your current income tax is $ 5175.00