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re: Care to share where your money goes?
Posted on 7/22/19 at 9:19 pm to Mr.Perfect
Posted on 7/22/19 at 9:19 pm to Mr.Perfect
Perhaps, but it might be less than you think.
Effective Tax Examples
Two examples in there:
1. Single, $100,000 income = effective tax of 18%.
2. Married, 2 kids, dual income $100,000 = effective tax of 8%.
State and local taxes might add a couple of percentage points to that.
But in each case the taxpayer would likely complain that they were in the 28% tax bracket, believing that is how much they pay in taxes. Most Americans pay far less in taxes than they perceive.
Effective Tax Examples
Two examples in there:
1. Single, $100,000 income = effective tax of 18%.
2. Married, 2 kids, dual income $100,000 = effective tax of 8%.
State and local taxes might add a couple of percentage points to that.
But in each case the taxpayer would likely complain that they were in the 28% tax bracket, believing that is how much they pay in taxes. Most Americans pay far less in taxes than they perceive.
Posted on 7/27/19 at 4:42 pm to rotrain
quote:
But in each case the taxpayer would likely complain that they were in the 28% tax bracket, believing that is how much they pay in taxes. Most Americans pay far less in taxes than they perceive.
Double taxation on dividends in taxable accounts, partnership distributions stacked at the top, gas tax, school taxes comprising 88% of county property taxes, city property taxes, never ending SPLOST taxes, sales tax, 6% state income tax with very little income exclusions, 7% TAVT upfront on new vehicle purchases, et al. I have a very good idea how much we pay in taxes.
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