How much do you pay and how much is too much?

Question

How much in taxes do you actually pay and how much more shoudl we have to pay?

I pay $1200.00 a month in taxes (between fed and state) at at the end of the year, I might get back a couple hundred. So how much more should I have to pay?

OK, so its about 30% of my income.

Answer 1

And if you think that's bad...
wait until you see what happens if Hillary gets in and institutes her socialist programs!
then we'll all be paying about 50-55% in taxes to support people who shouldn't even be here to begin with.

I love how conspiracy theorists point to Bush creating the NAU.
If it comes about, it will be because of Clinton, because she'll remove the borders and give everyone healthcare for free... on our dime.

I'm a single dad. I pay for my own healthcare and my son's.
I pay my taxes. I agree with you... each of us should only have to do our share, not other peoples' share as well!

Answer 2

I dont pay income taxes.

My state does sales tax and huge gas taxes only-- tourists please keep coming!

I used to pay a bit more than you Sway, then the ridiculous policies put in by Clinton and Bush allowed all tech companies to shift their jobs to India. My city is almost entirely call centers, so we had great TSR jobs for years until then. Now all we have are collections and telemarketing, neither of which works well for me. Instead I now work for the gov't making virtually nothing.

Thanks Clinton and Bush! On the bright side, at least Im no longer supporting the gov't as much as most people because I make so little money.

Answer 3

Pay tax is something outside of individuals chose. In that regard 'how mach is to much' is a statement rather it be the question. Beside that, individuals voting for less or more tax make not much different in the system .Simply, It seem to me, the political is about manging the system but the complicity of British system is far more that taxes

Answer 4

Since the Goverment takes out to much I claim 2 exemptions no point to give them a free loan since they won't do the same for me.

To date health insurance 520
fica 1565
medicare 366 - WOW I AM PAYING MEDICAL INSURANCE TWICE ALREADY
fed withhold 1557
state taxes 669
usr fee 44.
520 + 1565 + 366 + 1557 + 669 + 44 = $4677 as of 10/31/2007

Answer 5

Why didn't you just add the word "tax(es)" in your main question? What was the point of omitting it?

Besides, the monetary value you gave is meaningless, because we have no idea how much you earned, etc (for all we know, your gross income was below the poverty level, but you won millions in the lottery; are we supposed to feel sorry for you that you pay $1200 a month???).

There is no simple answer to your question, unless you give a specific, overall, view of the socio-economic situation (i.e., just saying, "in the USA (or Europe, whatever)" would not be sufficient).

Answer 6

I think who ever is asking the other to go out, should be the one to pay and one should definately not alway being paying. I certainly wouldn't mooch off someone all the time, nor do I have that expectation I hate the fact that just bc you may earn a higher paycheck, means you're the breadwinner. Puts a lot of pressure on the breadwinner and deflates the ego of the other persons efforts.

Answer 7

All. But get ready to pay more. Bush has spent more than any other president and doesn't care who pays for it. He even back dated paying for the war 10 years so he is out of office when the bill comes do. Don't vote for anyone who supports the war and doesn't want to take the troops out of Iraq or you will even be paying more than you are right now. The conservative party has become the taxation party. PS don't believe the lies of Cheney because he stated the war would cost 90% less than it realy cost.

Answer 8

On my husbands last check he paid 30% in taxes...Lord i about fainted. He works a commision only job, so it changes monthly. Mine is a low paid job, but i get too much taken out. I could get less if I claimed things on my forms, but since I am scared to have to pay in i make it to where i have the full amount taken out, this helps me not have to pay in...it sucks, but i would hate to be slapped w/ a $1000+ pay in when i do my taxes.....I suppose life goes on....

Answer 9

I live in NH where we have no state income tax and no sales tax (except for lodging and meals) so my total taxes as a percentage of my total income runs right around 20% each year.

That's for Federal Income Tax and Social Security & Medicare. I'm retired so I'm paying very little SS & Medicare.

Twenty percent seems very fair to me and I'm death on taxes. After 35 years, I moved from CA to get away from their socialist tax-em-'til-they-squeak mentality. I swear, the morons running that state (and SF, the city I grew up in) NEVER stop coming up with new ways to take your money away from you.

I'm all for a flat tax for FIT (maybe two levels - say, 10% for folks making up to around $50,000 or so and 20-25% for the rest) but don't expect to see one enacted in my lifetime. It just makes too much sense.

Answer 10

You're only counting Federal and State income taxes.
I pay 2.7% of the value of my home in property taxes per year.
I pay 6.5% sales tax on all goods I buy.
Luckily, I pay only 2% sales tax on food and groceries.
There's also Medicare/Medicaid income taxes.
And....just who is FICA and what does he do with my money?