Tax % for YOU??

[thestonesfan]

What percentage of your income/capital do you pay in taxes?

I complain a lot about it, but I know I have it a lot better than most of you. I pay about 25%, including state.

That's not including sales tax, though. And I don't have to pay property taxes on my house until next year.

 

[The Yankee]

I won't pay taxes this year simply because I didn't make anything. But for my parents, including city, state, and federal, I think it's at least 35-40%. And we're not even rich. After I stopped getting Social Security, the income is down to around $75,000 total in NYC, which has a taxed effect on the property tax hike which boosted rents across the board. Our rent is going to increase well over 10% next month. So, it's like a tax because of the "trickle down" effect of passing the costs onto the tenants.

 

[Yago]

What the hell do you think they invented bank-secrecy for ?

:fish:

 

[Paalikles]

I pay between 30 and 40% income tax....
cant remember what I pay in capital tax though

 

[The Yankee]

I'd love it if only 25% were taken out. I wonder what stonesfan is complaining about....and a house of his own to boot.

 

[newfangle]

I make more on stocks than I do at my job, and the capital gains tax I pay is somewhere around 1/3 of profits.

My father pays roughly 40% of his income.

Quite disgusting....

 

[newfangle]

Originally posted by The Yankee
I'd love it if only 25% were taken out. I wonder what stonesfan is complaining about....and a house of his own to boot.

You're right. He should be taxed until he can only afford an apartment, so he is no better than his proletariot brothers.

 

[Lefty Scaevola]

Fed state local together I have been as high as 80+% (real estate is heavily taxed in Texas, and ad valorum taxes do not go down when your income does in a recesion). 2003 around 45% to 65%, with the largest portion being real estate taxes.

 

[Laughing Gull]

lets see...
*random pay stub pulled from file*
26-JUL-2003 to 08-AUG-2003

regular salary: 1637.01
Federal Income tax -246.65
Medicare -22.88
Social Security -97.81
CA state disability insurance
-14.20
CA state Income Tax
-51.29
------------------------------------

$432.83, or 26.4% of my 2 week earnings.

on top of that

-81.85 for 401k
-10.15 for Dental
-58.62 for Medical
-2.08 for Vision


by the time I get to the bank, I have about $1050.00 to last me 2 weeks. In Orange County.

Edit: I am married, no house, and I claim 0 dependents.

 

[ainwood]

Oh, well I pay around 35% on my salary. Then I pay another 12.5% Goods & Services tax on anything I buy. Plus another about 70% on every dollar I spend on petrol. Alcohol is taxed heavily....Cigarrettes are something like 90% tax....(good thing I don't smoke). Then I have to pay about 2% of my annual income to register my car....


A $hipload of stealth tax!

 

[The Yankee]

Originally posted by newfangle


You're right. He should be taxed until he can only afford an apartment, so he is no better than his proletariot brothers.

Where did I say that? Actually, I'd rather be tax cut down to that level. Just wondering why he cries about punitive taxes when he's far from the top in paying them.

It's actually rather sick when New York State taxes NYC tax dollars without returning them to the city for use.

Strop making it sound as if I want to come into his home and take all his possessions. Those arguments are quite irritating.

 

[cgannon64]

No idea, but I'm guessing somewhere in the 30s...I think my parents mentioned around 33%.

 

[Comraddict]

23% on salary + whatever you buy addit.

 

[thestonesfan]

Originally posted by The Yankee
Where did I say that? Actually, I'd rather be tax cut down to that level. Just wondering why he cries about punitive taxes when he's far from the top in paying them.

If you'll notice the first post in the thread, I stated that I know I have it a lot better than most of you. And I think giving away 1/4 of your income justifies a little complaining, at any rate.

I've only been in the work force for two years, so I'm sure I'll get my chance to dole out some bigger bucks.

 

[The Yankee]

Yes, I saw it. I just found it somewhat hypocritical to complain all about it forever then say "Well, I realize I'm better off than most." Then try to defeat my arguments criticizing yours when in fact, I have a harder hit than you do.

Assuming you are middle class, you should be agreeing with me when I want to lessen the burden on the middle class. Yet there are some policies you support that would lessen the burden on the higher class and push it more on the lower classes. I can see this from newfangle, who's an aspiring aristocrat (let's hope he never falls on hard times), but...this is kind of surprising.

 

[Cilpot]

Right now I pay 9% income tax (I'm a student with virtually no income)

When I had a regular day-job with a decent salary I payed 36% tax, witch was a bit too much than nessicarry, but I got back what I was entitled to.

 

[sysyphus]

I'm on the order of something like 40%, until I do my return and get about 1/3 of it back.

So many people complain about their taxes yet do very little tax planning which could save them a fortune.

Personally, I don't mind paying them, a good country doesn't come cheap. I hate to see waste, which is inevitable of course, but should nonetheless be minimised.

 

[ArbitraryGuy]

I too am a poor student... I'm under the first bracket, so I'll get a nice refund check! Yeah! Car payments here I come!

 

[thestonesfan]

Originally posted by The Yankee
Yes, I saw it. I just found it somewhat hypocritical to complain all about it forever then say "Well, I realize I'm better off than most." Then try to defeat my arguments criticizing yours when in fact, I have a harder hit than you do.

I thought you said you had no income??

Anyway, is there some magical amount you have to pass before complaining is justified? If the playground bully takes 3 dollars instead of 5, I have no right to object? Give me a break.

Assuming you are middle class, you should be agreeing with me when I want to lessen the burden on the middle class. Yet there are some policies you support that would lessen the burden on the higher class and push it more on the lower classes. I can see this from newfangle, who's an aspiring aristocrat (let's hope he never falls on hard times), but...this is kind of surprising.

newfangle is an aristocrat? I thought he just respected virtue. You wouldn't expect the same from some dumb ol' middle class Joe? You can take your label and shove it where the sun don't shine. I have no use for it.

You talk like some robotic politician at a union rally. "We'll take it from this class and give it to this class so no class suffers..." blah blah blah.

What "burden" are you talking about? The burden of socialism? Why should I dictate who carries that kind of despicable burden? How can anyone morally do so? I have no claim to the money of anyone else, unless I work for them. They have no claim to my money, unless I hire them to work for me.

It's sad that you find it "surprising" that someone does not expect the rich, or anyone else, to shoulder the burden of their lives.

The knowledge that I will be arrested and go to jail if I choose to keep the money I earn is the only part of my life that makes me unhappy. Everything else, I can control. Everything else is rational.

 

[newfangle]

Originally posted by The Yankee

I can see this from newfangle, who's an aspiring aristocrat (let's hope he never falls on hard times), but...this is kind of surprising.

Ahhh ignorance. There is nothing so amusing.

I could sit here and tell you how I am funding my way through a double science degree at university with hopes of doing research the rest of my life, but its far more interesting watching your attempts at rationalizing why the government gun must be used to redistribute wealth.

What exactly is an aristocrat? Bill Gates, whose company has employ thousands upon thousands of people? What about the rest of the corporate executives in the world, that drive industry, or the keenest minds in research that drive innovation?

Face it, you (for whatever reason) have some desire to punish successful members of society. Whether this is due to some self-esteem issue, or a burning hatred for those that have done well in life- it is irrelavent. It is a destructive illusion with no basis in reality.