May 5th is tax freedom day?
that means that the gov't owns you for the first 4 months and a week... who says slavery was abolished ?? !!
whoops !!! I got it wrong, it's June 3rd now. Visit the site below
2006-08-01 06:45:27
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answer #1
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answered by MK6 7
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The tax freedom day thing is based on all taxes; including business taxes. It's not a representation or how long an individual works to pay taxes. I can assure you that my personal tax liability is not over $20,000, as the TFD would indicate.
Also, FICA and Insurance and other personal contributions and deductions are NOT taxes.
I believe I pay about 20% (after deductions). State and federal tax, combined.
Sales tax, I'm sure I pay less than $500, in an average year.
2006-08-01 07:06:55
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answer #2
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answered by limendoz 5
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Actually the governments (fed, state, local) are into your pockets for over 50% of your wages once you count all the hidden taxes you pay on gasoline, cigs, food, etc. It is an incredibly high ammount, and you work from january 1st till into july just to cover this burden. Dont let anyone fool you into thinking otherwise; The USA is run by shysters and thieves.
2006-08-01 06:51:48
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answer #3
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answered by the prof 2
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The upper class is paying 55 - 65% of their income in taxes. Communistic to the core. As a matter of fact, a heavily graduated income tax is in Marx's Communist Manifesto. Go figure.
2006-08-01 06:46:50
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answer #4
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answered by jpj 3
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22 to 25% more if bonuses or vacation time is involved.
FICA, FICA Medicare, Federal Income Tax and they have State Tax here as well.
I've also union dues ($8.08 a week), United Way ($5 a week) and direct deposit toa savings account ($20 a week).
In other words I really don't have much of paycheck left!
2006-08-01 06:45:37
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answer #5
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answered by Miss Guided 4
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FICA takes 7.65%
Michigan takes 3.9%
Federal takes usually 10% of any income over $102 plus an additional $5
Didn't need to look at my paystubs to tell you that. The beauty of knowing accounting ahh!
2006-08-01 06:47:41
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answer #6
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answered by Josh 4
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Between 60-70% per cent of our wages go to the government in
taxes, council taxes, VAT, and car tax as well as other expenses.
2006-08-01 06:46:24
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answer #7
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answered by brogdenuk 7
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It depends on how much you make which puts you in a certain tax bracket. Most people who earn under about 35,000/year get about 20% taken out. Over that it rises.
2006-08-01 06:46:27
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answer #8
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answered by Anonymous
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1%
2006-08-01 06:55:42
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answer #9
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answered by scorpio 1
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What government? Which Country????
2006-08-01 06:46:04
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answer #10
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answered by the_big_v 5
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