April 15th Again.... What's Your 2013 Effective Tax Rate".

[jclay2]

The goal of this thread is to create discussion with the looming tax deadline and highlight just how ugly our true tax burdens are. For this poll, please take your total tax bill - Federal Income, State Income, FICA (employer and employee), Property Tax, and any other direct taxes that you personally pay on a fairly on going basis - and divide by your take (home pay + non taxed 401k contributions + health care benefits + employer fica portion + misc benefits). For healthcare, I think the baseline should be 15k for the total value of a family healthcare plan. If you are single, use 6k for the value of your health plan.

My numbers are personally about 36%, before sales tax and misc state fees. What is very scary to me, is that this does not include inflation or regulatory costs which perpetually raise the cost of living and decrease one's purchasing power.

 

[Quark]

I worked part-time (in addition to being a full-time college student) last year. I made about $1500, and from city, state, and federal taxes about $140 was taken. I got about $100 back though. So my tax rate is about 3.3%, which is mostly the city tax which I didn't get back.

 

[jclay2]

I worked part-time (in addition to being a full-time college student) last year. I made about $1500, and from city, state, and federal taxes about $140 was taken. I got about $100 back though. So my tax rate is about 3.3%, which is mostly the city tax which I didn't get back.

Did you add in the property tax that is passed through your rent? I am a renter and looked up the tax bill of similar units to get the exact cost.

 

[oyarde]

The goal of this thread is to create discussion with the looming tax deadline and highlight just how ugly our true tax burdens are. For this poll, please take your total tax bill - Federal Income, State Income, FICA (employer and employee), Property Tax, and any other direct taxes that you personally pay on a fairly on going basis - and divide by your take (home pay + non taxed 401k contributions + health care benefits + employer fica portion + misc benefits). For healthcare, I think the baseline should be 15k for the total value of a family healthcare plan. If you are single, use 6k for the value of your health plan.

My numbers are personally about 36%, before sales tax and misc state fees. What is very scary to me, is that this does not include inflation or regulatory costs which perpetually raise the cost of living and decrease one's purchasing power.

Looks like , just under 35% .But my health plan is $15 a yr and my dental $18.74 a month, Mrs has her own , not sure what it costs and all of are kids are grown so we do not need a family plan. We file separate , I would guess her percentage to be somewhat lower than mine , she pays less property tax .

 

[oyarde]

I worked part-time (in addition to being a full-time college student) last year. I made about $1500, and from city, state, and federal taxes about $140 was taken. I got about $100 back though. So my tax rate is about 3.3%, which is mostly the city tax which I didn't get back.

Living on $1500 must be tough.

 

[Quark]

Living on $1500 must be tough.

I get private aid (from my private university) which covers all of my tuition and supplies with some surplus; and federal loans (yeah ... I know) that (with the job money) pay for the rest of my expenses. Sometimes my parents give me some money too, but they are pretty poor (and wasteful), so I don't count on it. My rent (with a roommate) is $300/month, and food expenses $75 - 150/month. So, my yearly expenditure is about $9000.

 

[Danke]

"other direct taxes " You are mixing direct and indirect taxes. Income taxes are indirect, a tax on privileged income. Property taxes are separate.

Most people don't realize how much in taxes they pay. It is well over 60% for most in the middle class.

And then there is the the inflation tax, printing money to bail out the wealth bankers, etc.

But if you study the law, most can get out of the burden of the Income taxes (Federal and State).

Can they tax the "paycheck" of a man in China? So reading the tax code, how can you determine that distinguishing fact, isn't it spelled out?

No, of course not. You are looking for the wrong fact. It is the activity one is engaged in that created a liability to "return" property to its owners who paid it out (the government gained income, an excise tax which is from the exercise of a government privilege).

So what can the government tax?

Read up to understand:
http://www.freebookez.com/ebook.php...0aGUgQ29kZSAoZnJlZSB2ZXJzaW9uKSAtIDEyMTUub3Jn

 

[oyarde]

I think Danke is right , many people have no idea how much they really pay. I pay less than 50 % , but I am in a low property tax percentage state and a low cost area.

 

[MelissaWV]

I think Danke is right , many people have no idea how much they really pay. I pay less than 50 % , but I am in a low property tax percentage state and a low cost area.

This will also be skewed based on not having a state income tax. It doesn't mean it's not yanked out of you another way.

 

[oyarde]

This will also be skewed based on not having a state income tax. It doesn't mean it's not yanked out of you another way.

That is a wash , best I can tell , states with no income tax usually have higher sales and property taxes .

 

[MelissaWV]

That is a wash , best I can tell , states with no income tax usually have higher sales and property taxes .

But he didn't include sales taxes in his calculations, which tend to skew higher, yes.

 

[oyarde]

But he didn't include sales taxes in his calculations, which tend to skew higher, yes.

Yes . That along with three gasoline taxes etc is how my burden goes from thirty some percent to forty some percent .

 

[oyarde]

Basically , because I live where residence property tax is capped at 1 % , rental property , farm land etc all capped too , a low cost of living area , I am able to make , say 37 to 60k and stay under 50 % tax burden .If I lived in , say New York , my tax burden would be more than half of what I make ....

 

[oyarde]

What people really pay in taxes is unacceptable.The govt.'s should not be getting 1/3 , 1/2 or more of earnings.

 

[Suzanimal]

This will also be skewed based on not having a state income tax. It doesn't mean it's not yanked out of you another way.

We have state income tax, sales tax and property tax.

 

[oyarde]

We have state income tax, sales tax and property tax.

Most states do.

 

[oyarde]

We have state income tax, sales tax and property tax.

Half of all State tax collected in my State , and , about all property tax is what it is used to fund the public school system . About 11K per kid .The rest of the entire State is ran on a 2 1/2 % tax and sales tax. There is no sales tax on food . About half of States do tax food , that is immoral.

 

[oyarde]

60 % of people in the poll are @ 10 - 40 % , about what I would expect . Even with only ten people .Fairly reflective of the nation , which only 6 in 10 work and only half of those six pay Fed tax . Which , is why a nation with trillion dollar deficits , fairly yearly , is doomed to fail.

 

[oyarde]

Say you are a young person in Seattle , pay rent , do not make enough to pay Fed Tax , do not drive ,your sales tax on everything you buy will be about 10 %. You will be paying your Landlord's property tax , you and your employer will pay Soc Security taxes and Medicare taxes . For a broke ass kid , your tax burden is suddenly , very high.

 

[oyarde]

I will probably add to my tax burden this month and buy a fishing and hunting license for the first time in 17 yrs or so .