How much does the government take in State, Federal and social security taxeson a paycheck?

Question

need to know the average %age

I live in NC and I am trying to figure out how much they will take from my $848 check

Answer 1

The 'Tax Freedom Day' for an individual varies by state, locality, income level, deductability, and so on. At the start of the year, you figure everything you earn goes to taxes. One day, you've paid your taxes for the year and can keep the rest. In the United States, that day generally falls around the middle of the year, so half your income goes to taxes. In California, it's July or later, so more than half. The more Socialistic a country is, the later that day falls.

The dates from the Tax Foundation (see reference) are earlier than that because they do not count the 'regulatory burden'. If you need to spend $50,000 is 'permits' to build a house, that's a tax. If a corporation must spend millions of dollars to meet all of the regulations and reporting requirements imposed on it, that's a tax.

Thinking of it this way helps you realize how much tax you are really paying. Hopefully that encourages you to stop voting for more taxes or voting for people who raise taxes. Unfortunately, people who pay little in taxes have no reason to vote against taxes, since they receive the benefits and someone else pays the taxes. Hopefully the Fair Tax (http://www.fairtax.org) will help correct this problem before the people on the government dole become the majority.

For your own personal case, see the various tax programs in stores or on the web, many for free.

Answer 2

Depends on where you live, Florida doesn't take state taxes out of your check (they get it when you buy stuff).