I just looked it up dragon blowhard, the first $43,000 in income is taxed at 15%, so if I made $40,000 my net would be something like 12%. Christ this sight should be called cluelesstrader.
1) you dont live in california, I have high state taxes 2) I dont have a mortgage interest deduction 3) You havent even come close to calculating your FULL tax load with the hundreds of hidden taxes in everything you pay for Go back to your files and now add all the payroll taxes, local taxes, SocSec, cap gains, unemployment taxes, workers comp taxes, electricity taxes, severance taxes, insurance premium taxes, license taxes, hotel room taxes, car rental taxes, airline taxes, beer/wine taxes, sales taxes, gas taxes, alcohol taxes, cell phone taxes, water taxes, garbage taxes, auto taxes, import taxes, insurance taxes, + + + + + you pay, and then come back to us with your real tax number. 48% of the cost of a gallon of gas is TAXES. Higher in Cali I bet. 43% of the cost of a beer, is TAXES. So, did you include the taxes hidden in all of the above in your number? NO YOU DIDNT Who cares about a single individual. For most americans, in higher brackets, all of the above applies. Most people are not self employed or business owners.
Wow, why not throw out a prostitute tax, a cosmetic surgery tax, a duck hunting tax, are you kidding me a beer tax is eating you alive. I love it. :eek:
Im talking about high income earners. Learn to read kid. 43K is chump change. Besides, Your net would not be 12%, you didnt include all the other taxes I listed. You have never calculated your actual tax burden. Youre not even close.
Its just an example of how high the hidden taxes are. I never said the beer tax was eating me alive, stop playing dumb. There are taxes everywhere, thats the point, some very high, and you have accounted for none of them. Which is why your position has no legs. If you want to sit in the corner and cover your eyes and pretend that the government is really only getting 29% of your money, be my guest. But you are simply being ignorant. Waaaay ignorant.
What insult??? If youre only paying 29% in taxes, then frankly, you are not a high income tax bracket guy. If the truth hurts and you take it as an insult, thats your problem. You have no position, because currently, you are claiming you only pay 29% in taxes, but failed to take into account a boat load of other taxes. When you get caught red handed with your pants down, you start calling people "clowns" and start talking about stupidity taxes. It is you that has to resort to name calling, because frankly, your position has already been crushed. Your house of cards has already collapsed. Now go back to making your low income living where you only pay a mere 29% in taxes. Go check the taxes in new york city for high earners. Fed + high state + high city taxes + fica + soc sec + payroll + sales tax alone will take you well over your little 29%. You arent even in the ballpark kid.
Why would I care to check taxes in NYC if I don't live there, of course they are higher, thats why I live where I do. Dude there are millions of people just like me with incomes in the six figures who don't pay anywhere near 60% in taxes.
Affirmative. NY is a big, dirty, rat race where you probably don't know the people on the same floor in your apartment building. Traffic is also from hell. For this you pay more money to live there, not less. Ouch!
Since you still havent bothered to carefully calculate what percentage of your money the government really gets, you can make no claims about how close to 60% you are. I was wagering 60%, my actual claim was 50%.
lol true however trader dragon does have a point that taxes are embedded everywhere you look. I think it possible to be taxed greater than 50% of gross income.