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Subject:  Re: 401(k) and foolishness revisited Date:  4/26/1998  9:46 AM
Author:  nonqual Number:  3041 of 88007

<<TR = (Federal Tax Rate + State Tax Rate) =(0.28 + 0.09)>>

Assuming one itemizes, don't you have to account for the deductiblity of state income taxes on the federal return:

TR = (Federal Tax Rate + State Tax Rate) =[0.28 + 0.09(1-0.28)]??
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