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The higher education degree you have, the higher income and taxes you get. There’s a statistic that showed median earnings and tax payments by level of education in 2003. According to the statistic, the average earnings of people who have less than HS diploma is $ 21,600. High school diploma $30,800, associate degree $ 37,000, master’s degree $50,500, and the highest income is professional degree $95,700. The gap between less than HS diploma and professional degree is $ 74,100. Although people who have higher degree have higher income, they have to pay more taxes. The approximate percentages of tax payment are in the following: less than HS diploma 4%, high school diploma 3.5%, master’s degree 17% and profession degree 23%.