Single
$154,800 $336,550 $37,675.50 plus 33% of the amount over 154,800

Without exclusion
167,000 - 154,800 = 12,200 * .33 = 4026 + 37,675.50 = 41,701.50

$74,200 $154,800 $15,107.50 plus 28% of the amount over 74,200

With exclusion
167,000 - 85,000 = 82,000 - 74,200 = 7800 * .28 = 2184 + 15107.50 = 17,291.50

Hong Kong
167,000 * .16 = 26,720

17,291.50 + 26,720 = 44,011.50 for a loss of 2,310 by not using tax equalization.