Unemployment almost 10% nationally

[deerman]

Quote:
Huh! Who is getting paid not to work? Are referring to unemployment insurance that everyone pays into when they are working?

That only pays for the first 26 weeks.....after that the tax payers are paying.

 

[knjinnm]

Someone wrote:

"Our country is failing, we are loosing technology and manufacturing jobs, our education system is lacking. we are sick, we have high health care costs, and low life span averages."

Well don't worry, there are 2.4 BILLION Chinese and Indians who continue to stress education. Soon, together they will produce enough college graduates (300 million) to equal to the total U.S. population, which is 12% of their total populations.
They will provide the U.S. with doctors, scientists, researchers, managers and other skilled workers, so start learning Mandarin Chinese because Americans do not value education.

 

[michickenwrangler]

I've always thought that the kids' tv show Ni Hao, Kai Lan is just the govt's way of getting my daughter's generation ready for her new overlords

 

[deerman]

Quote:
Be careful what you wish for. Most folks don't pay anywhere near the effective income tax rate that they think they do.


If my math is correct, for a family of four with two children:

4 x 3650 = $14,600 in personal exemptions

standard deduction = $11,400

Two child tax credits of $1000 = somewhere around $19,000 above the $26,000 that is already exempt.

A family of four with two children making less than $45,000 isn't paying any federal income tax. That number raises if they have mortgage interest and property taxes exceeding the $11,400 standard deduction.

Few facts of mine for 2008

Fed income tax payed 21,000
State income tax paid 1,750
City income tax paid 1,215
SS tax payed 3,243
Medicare care tax payed 758
Sell tax on my truck 1,860
Gas tax paid 675
Property tax payed 5500
--------
36,501.00

I earned less than 75,000 working long hours= 49% that i paid not counting the tax i payed on the money i spend.


NOW YOU CAN SEE WHY I AM SICK OF TAXES.....YES give me a flat tax anyday.

 

[Organics North]

Quote:
(Wow you have high property tax!)

Agreed you get very little for that 50+ percent tax rate.....In most European countries you would pay about the same, except you would have a high safety net (Decent unemployment) if you needed it, health care and higher education all paid for.

Here the working class pay taxes to give the money to the wealthiest few large corporation owners ... Kind of like in the dark ages, where the king would go around collecting tax from the peasant farmers...

No one is proposing higher taxes on the working class! Heck our back is already breaking, we are shrinking in numbers... What I don't understand is why do you not support larger taxes on the higher income brackets, and closing the loop holes?

ON

 

[knjinnm]

Quote:
Be careful what you wish for. Most folks don't pay anywhere near the effective income tax rate that they think they do.


If my math is correct, for a family of four with two children:

4 x 3650 = $14,600 in personal exemptions

standard deduction = $11,400

Two child tax credits of $1000 = somewhere around $19,000 above the $26,000 that is already exempt.

A family of four with two children making less than $45,000 isn't paying any federal income tax. That number raises if they have mortgage interest and property taxes exceeding the $11,400 standard deduction.

Few facts of mine for 2008

Fed income tax payed 21,000
State income tax paid 1,750
City income tax paid 1,215
SS tax payed 3,243
Medicare care tax payed 758
Sell tax on my truck 1,860
Gas tax paid 675
Property tax payed 5500
--------
36,501.00

I earned less than 75,000 working long hours= 49% that i paid not counting the tax i payed on the money i spend.


NOW YOU CAN SEE WHY I AM SICK OF TAXES.....YES give me a flat tax anyday.

Are you buying a truck each year?

Time to move to a city without income taxes and stop driving to avoid gas taxes, oh ... you expected to drive without paying for roads, bridges, street signs or street lamps?

Instead of a flat tax check out a transaction tax:
http://www.apttax.com/

 

[Mac in Wisco]

Quote:
There's some income not stated there or you need an accountant. For federal that would be an effective tax rate of 28%. My math shows a max of around $12,000 for federal income tax on $75K for a single person using the standard deduction. Your property taxes alone were more than the standard deduction, so itemizing your deductions on mortgage interest, property taxes, other taxes paid, and any tax credits you qualified for it should have been well below $12,000.

 

[rufus]

Quote:
Huh! Who is getting paid not to work? Are referring to unemployment insurance that everyone pays into when they are working?

I don't know where you are posting from, but in the state of Arizona unemployment insurance is fully paid by the employer as a tax on the gross payroll. Nothing is paid by the employee.

People don't realize that the employee related expenditures can often exceed the total of wages paid.

Rufus

 

[Dunkopf]

Quote:
There's some income not stated there or you need an accountant. For federal that would be an effective tax rate of 28%. My math shows a max of around $12,000 for federal income tax on $75K for a single person using the standard deduction. Your property taxes alone were more than the standard deduction, so itemizing your deductions on mortgage interest, property taxes, other taxes paid, and any tax credits you qualified for it should have been well below $12,000.

Wow if you've been paying that much tax each year you need an accountant. Somehow I think you forgot to add what you actually paid after your standard deduction and your mortgage and property tax deductions. That's higher than what they pay in Sweden and they get cradle to grave benefits and a heck of a good social safety net.

 

[Dunkopf]

Quote:
They actually have kids shows where corporations run the country? That's who the new overlords are going to be.