Quote:
Originally Posted by Mutt
Americans making between 100-200K only pay 16.3% income tax? do Americans pay state income tax seperately? How much would that add to the %?
Canadians in that income bracket are in the mid 30% combining federal and provincial income tax.
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I pay taxes every time I turn around. It's outrageous in my opinion.
First the feds take it in income tax. And don't forget if I make the mistake of hiring employees, then I have to pay matching funds for their social security (govt. double dipping)
Then if I invest my money I earned, they tax it again as capital gains. Then I go to put overpriced gasoline in my car and pay a shitload of taxes on that. I moved to Las Vegas because Nevada doesn't have a state income tax...but they more than make up with it in sales tax and "fees" for everything. Registering my cars costs a few thousand dollars.
Owning my own home costs me a nice hefty property tax.
The city gets it's money out of me. And so does the county.
If I could sit down and accurately figure out how much of every dollar that a local, state, or federal govt. takes from me...I'd probably only end up with pennies out of every dollar that I EARNED.
I capitalized the word "earned" because the different taxes from local, state, and fed just take it from me like it belongs to them.
EDIT: Oh yeah...and when I die? I can't leave it all to my daughters. The good old "Death Tax" is always around the corner so the govt. can swoop in and steal everything you built.