Quote:
Originally Posted by lendaddy
Don't sweat it, I have it on good authority that Hugh doesn't mind picking up the slack to help everyone out.
j/k Hugh  |
I'm really not that rich. I rant cause I do make a good income and the gubmit denys me just about every write off that people who make 1/2 what I make get to take. I include employee and employer SS mandatory withholdings, which for my wife and I are the max which is $28K and some change. If you think your employer pays their 1/2 of the SS, you don't understand the concept of "Market Clearing Price" that's included in what my employer sees as the cost of employing me.
Add in $30K in federal income taxes, $12,000 to California (Soon to jump by another $1,700 for 2009), Property Taxes of $4,800, vehicle registration tax of $500 (soon to go to $1,000), add in another $3700 for medicaid and disability and you've got about $80,000 in taxes, which is about
52% .
And that doesn't include sales tax of 8.25% sales tax (soon to go to 9.75%), or gas tax and all the utility taxes. Which I'll bet are another $2,000/year.
If I made half as much, all things equal, I'd pay about $5,100 in Federal income taxes, not $40,000! WTF is up with that!