We do not itemize our federal taxes. Still we pay $600 more per year in state taxes than in federal.
2007-12-17 08:24:50 · 4 answers · asked by pennypincher 7 in Business & Finance ➔ Taxes ➔ United States
I live in Indiana.
2007-12-17 08:30:50 · update #1
I live in Taxachusetts.
5.something % income tax
5% sales tax
excise tax on car
1.5 % average tax on real estate owned.
Then there are lost wages due to:
unemployement tax - 11%
workman's comp - 1-50%
very strict regulations
etc.
I figured out that as an employer, considering all state fed and other taxes, fees, insurance, etc. - For any given amount of employee expense, that the employee ends up with about 48% of what I have spent to employ them (all taxes, fed, state, etc.). This does not include the increase in the costs of the items they get to buy with that 48% due to the taxation and regulation of the companies and their employees that sell the products you need or want (food, mortgage, swingset, car, etc.) which I would estimate double the real cost of these good. So ultimately I would settle around 25% goes to real empoyee purchased goods. I am not sure how many of these hidden costs that Canada has, but it's starting to sound cheap up there.
From my perception it takes about 75% of all of our incomes to run society and comply with our laws. That is before you even buy yourself anything you think you need...including medical care, which is included in the Canadian tax (from my understanding).
2007-12-17 09:34:36 · answer #1 · answered by yakrafter 2 · 0⤊ 0⤋
The ingenious flow is to wreck a loose industry society through taxing and regulating it to dying. Then the Progressives paint a image the wealthy are accountable for this decline of prosperity and basically the government can shop them. If strick government administration is the respond, then usa prepare be the weakess us of a interior the international. international places that have observed communism and socialism could be extra suitable than a rustic geared up on loose commerce.
2016-12-11 07:52:25 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Canada has high taxes. A person pays roughly 32% of what they make in taxes not including sales.
2007-12-17 08:32:33 · answer #3 · answered by Lex 7 · 0⤊ 0⤋
What state do you live in?
2007-12-17 08:27:46 · answer #4 · answered by LEW 3 · 0⤊ 0⤋