2007-05-28 02:03:00 · 5 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
The percentage varies with the amount of income you make.
The last I remember hearing though "Tax Freedom Day" is somewhere in the third week in May. this means that everything you make between January 1st and Tax Freedom Day goes to pay your income tax.
By the way, the 16thAmendment to the Constitution of the USA requiring income tax was NEVER ratified by the individual states as required by the Constitution. It was signed into law without proper ratification. Those in the state of Utah are never charged with income tax evasion because the government knows they cannot win the case.
When I find my resource on the statement I just made I will add it to this. It is hiding from me right now...LOL
2007-05-28 02:25:36 · answer #1 · answered by pinelake302 6 · 0⤊ 0⤋
7.35% for social security and medicare, or twice that much if your income is from self-employment since if you're an employee, your employer matches what you pay, but if you're self-employed, you pay both halves.
Federal income tax is zero to close to 35% depending on your income.
State income tax is zero to around 9% depending on where you live. There can also be local income taxes.
2007-05-28 04:52:28 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
In general, 33-35 % depending on the state in which you live. You have to account for Medicare deductions that are mandatory and Social Security deductions also!
2007-05-28 02:54:40 · answer #3 · answered by sky4155 2 · 0⤊ 0⤋
I pay about 40%, but I am in a high tax bracket. This doen't count sales tax, gas tax, and property tax. Also remember if your are self-employed you pay 15% to social security, if your are employed by someone you pay 7.5% and they pay 7.5%.
2007-05-28 02:07:20 · answer #4 · answered by misty m 4 · 0⤊ 0⤋
27%
2007-05-28 02:06:49 · answer #5 · answered by richfraga 7 · 0⤊ 0⤋