Wednesday, October 21, 2009

F. Scott Fitzgerald's tax returns

Think that reading about tax returns is interesting? Me neither, but I thought this was an interesting bit about F. Scott Fitzgerald and his tax returns. Some fun bits:

That year [1920] only roughly 7 percent of the population—7,259,944—even filed tax returns. Today, about 45 percent of the population files returns...


...the modern equivalent of Fitzgerald’s annual income would be roughly $500,000...Fitzgerald’s income was almost tax free (5.5 percent effective rate), while today’s taxpayer making $500,000 would probably pay 40 percent in income and Social Security taxes.


Over Fitzgerald’s working life, he reported a total of $449,713 in gross income, and he paid $24,666 in taxes—thus the effective tax rate of 5.5 percent.

And for my first effort with the hide-a-text function, do you know which book of his was most printed during his lifetime?