John earns $21.60/hr and 40 hours a week (full time). Income tax is 7.05%. What is John's net income for 1 year (subtracted from tax)?
1 - .0705 = .9295
So he is really making
.9295 * 21.60 per hour after tax
multiply that by 40 hours per week and 52 weeks in a year
.9295 * 21.60 * 40 * 52 = ?
(It should be around 42 thousand I estimate. Use your calculator to get it right.) Notice that I am assuming he gets paid for any vacation or holiday time he takes.