Would you say that you pay 75% of your income to taxes

Discussion in 'The Bar' started by Avery, Jul 5, 2012.

  1. Avery

    Avery Well-Known Member Banned User

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    If taxes are defined a mandate by law or legal necessity...

    Social Security and Medicare: 15.3%
    Federal income tax: 25% (28% above $83,600)
    State income tax: 5% (mid-range)
    Healthcare insurance: 15%
    Property tax: 15%

    ^ is this you sans state sales taxes?

    How does it break down for you Canadians or other f'erriners?
     
  2. Schmoopy

    Schmoopy Shit Mult Hunter

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    Not commenting on that. I don't feel like getting agitated. :dontcare:
     
  3. low selfestitle

    low selfestitle Moderator Staff Member

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    Is this an audit? :worried:
     
  4. MatthewT

    MatthewT Awaiting The Rapture VIP

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    The Taxed Enough Already Party has an excellent point
     
  5. Kanye West

    Kanye West Yeezus!

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    how would schmoopy know doesnt his one eyed pops pay him in cash under the table
     
  6. MatthewT

    MatthewT Awaiting The Rapture VIP

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    tax freedom day is in June, isn't it? so it's still somewhere south of 50%
     
  7. Avery

    Avery Well-Known Member Banned User

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    What do you think is wrong?

    I copy pasted it! :woohoo:
     
  8. Avery

    Avery Well-Known Member Banned User

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    I think that day only includes income state/fed taxes.
     
  9. MatthewT

    MatthewT Awaiting The Rapture VIP

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    well, for starters, most people only pay half of the tax to medicare/social security, and most people in this range pay an actual rate of 15-18%, not the marginal rate of 25%. California was about 4.5%, but healthcare isn't a tax (yet) and property taxes assume the ownership of property. also, sales taxes are significant, and not accounted for.
     
  10. Daveindiego

    Daveindiego Confirmed Internet Legend Gold

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    Wouldn't your property taxes lower your federal taxes? Not to mention all the other 'loopholes and credits' available.


    I'm not sure, I don't pay that. I rent. :dance:
     
  11. Tarpon1965

    Tarpon1965 Resident Dawg Whisperer

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    No state income tax in Florida and my health insurance and property tax are no where near 15% of my income. :cheer:
     
  12. Avery

    Avery Well-Known Member Banned User

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    Some would say wages would rise if employers weren't on the hook for the rest. That we pay it indirectly w/ lost wages.
     
  13. doughhead63

    doughhead63 OD'd on life itself Staff Member

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    Buy the OP's logic, a person making grossing $100k would net $15k?

    Nah, no way son.
     
  14. Jake Dog

    Jake Dog Well-Known Member VIP

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    No way. I'm retired.

    As the good book says, "See how the lilies of the field grow. They do not labor or spin." (Matthew 6:28)
     
  15. PI Nate

    PI Nate Disenfranchised since 1984... Gold

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    when you factor in sales tax on purchases, its probably higher...
     
  16. boxers

    boxers Guest

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    your numbers are sooooo fucking wrong. And Canada has a much higher tax rate but those taxes also allow them the "free" health care
     
  17. PI Nate

    PI Nate Disenfranchised since 1984... Gold

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    "We do not sow!!"
    [​IMG]
     
  18. RH Goatcabin

    RH Goatcabin Notable Member VIP

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    I support abolishing the Income Tax and replacing it with a national sales tax...
     
  19. boxers

    boxers Guest

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    I support a flat 14%.
     
  20. RH Goatcabin

    RH Goatcabin Notable Member VIP

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    how bout 10?

    :D