Most of you do not realize that you pay 50% tax now that is what i said 50% and if you count it up you will see..
income tax
phone tax
cel phone tax
water bill tax
cable tax
spending your money tax
buy tires pay fed tax on top of red. tax + sales tax
home owners tax
car tag tax
beer tax
cig. tax
and the rest that i left off, a few years ago ten of us in income brackets from $28,000 to $276,000 per year did this add up all the taxes we paid for 6 months and then double it we found out all of us paid from 47.7% to 51.6 % of the money we made for the year. Check it out unless you don't want to know!!!
jim

 

It's time for a Boston Tea Party!

 

correct me but isn't England it's like 80-90% of income I believe.

 

How the hell did you get to keep 10 to 20% ?

The form I filled out had two lines:

Line 1:
how much did you make...

Line2:
send it in...

 

There was a time when the King of England got to keep it all if he wanted to.

As I recall, we kicked him out.

Somthing to do with Taxes I believe......

roadster with a stick

 

Aw, come on what are you bellyaching about? You act like THERE IS A RECESSION, like PEOPLE ARE STRUGGLING, can't keep their jobs or find one. I mean really if THE COST OF EVERYTHING IS GOING UP or the price of gas shot up I'd think that maybe there was a reason you would have a problem paying HALF OF YOUR INCOME to pork barrel projects and private contractors. But really there isn't a problem Shell, Mobile and all the others are posting RECORD PROFITS, now that proves there isn't a problem and you should be glad to have a chance to pay all of these fine American Taxes. I mean if we were not able to give so much why would the TOP GOVERNMENTAL JOBS HAVE GREAT BENIFITS SOME FOR LIFE. Even if OUR ELECTED OFFICALS HAVE LEGAL TROUBLE AND BREAK THE LAW. They are different and special rules apply to them. Geez Louise arn't you the stick in the mud. You act like A FRIST YEAR ACCOUNTING STUDENT could do a better job than the IRS/Govt.

 

I wish I hadn't just read this...

I never thought about it that way.

I'm now depressed and have a headache...

 

i would say 50% is conservative. if you are upper middle class, you are probably already paying 40% on just income tax. i personal opinion is that you should only be taxed on money you save - not money you spend. if you make $50,000 and spend $40,000, you should only be taxed on $10,000. the reason is simple. anything you spend money on is income to someone else. the only real income you have is what you save. today we pay taxes on top of taxes. btw, i heard the worst thing you can do is borrow against your 401k plan. to pay it back, you use money that has already been taxed then to get money out of the 401 when you retire, you have to pay taxes again.

cute little story about a young adult conversation. i own my cars, boat and house - no debt. this 20 year old thinks i'm living free.... i told him i pay $2900/year (i live in the south) on property tax on the house and another $500/year homeowner dues. that's almost $300/month which is less than he's paying on rent. he couldn't believe you can own something outright and still have to pay on it like that. and, i told him if i don't pay, they can come take it away from me. he just shook his head.

 

Sounds like a wonderfuly convenient way to get out of paying taxes. Just don't save anything.

With Americans saving less than 2% of earning, the government could take it all and still not have enough to pay for all the services; some of which we require to survive.

Unless I missed something. Perhaps you could exlplain.

Loved your story about the youngster. Most folks don't have a clue about that.



roadster with a stick

 

For most of my life I was a salaried employee and paid about 30% of my income in taxes, in 1970 I incorporated and became a contract employee, currently I bring in about $22,000.00 a month, thanks Shell. and if I fart it's tax deductable, all my vehicles are in the company name and all costs are deducted, travel is also deducted as I look for work every where I go, being a wage slave is the road to nowhere financialy, eventhough my father paid off his house, my son's children are unlikely to do so.in the future

 

So..... Your the reason my gas is $ 4.00 a gallon? LOL

Congrats on wisely using your money and your talents in productive ways.

I retired at 38 when I stopped trading time for money and started my own business. I work a lot harder now, more hours for a lot less money but have enjoyed every day of the last 23 years.

During that time, I have learned the true meaning of the word "Taxes."

Most folks who earn wages from an employer, have no clue as to the burden they carry.


roadster with a stick

 

The answer is to throw the bums out, all of them. Integrity is long gone and public service should be about serving the public, not yourself. Joining the band of thieves is currently the only way out and it shouldn't be, as the rest of the, as mentioned above "wage slaves" shoulder the burden for the privileged. Politicians want everyone dependent upon the government, it empowers them. Did someone say “throw the tea in the harbor"?