Total tax paid
$5.98
Did you know your employer also pays tax on your salary? It costs the employer $1.06 to pay you $48. In other words, every time you spend $10 of your hard-earned money, $1.25 goes to the government.
Real tax rate
12.2%
So, with you and the employer both paying tax, what used to be a 10.3% tax rate now rises to 12.2%, meaning your real tax rate is actually 1.9% higher than what it seemed at first.