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I give 24% of my paycheck to the government

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Kayo-kun

Member
Oh that's nothing. I pay 34% of my paycheck to the government.

(but I noticed that there are worse cases in this thread)
 

Uncle

Member
I'm 26 years old, single, no kids, make about $25K a year, and I'm a student.

Is this normal?

Is that just your income tax %? Because if it is, it would be lower even in Finland and even if you added unemployment insurance and pension payments into it (and belonged to the church).
 
The amount of stuff you get for that scant 24% is staggering. Most of it you barely know exists. Safety standards, clean drinking water, food cleanliness levels, military protection, sewer systems, roads, sidewalks, power infrastructure, etc.
 

zoku88

Member
Are you sure you're actually calculating this correctly? Or are you including non-taxes as well?


EDIT: Oh, so you were only looking at your paycheck and someone already said that. Nvm then.
 
The amount you have left after taxes is a whole lot more than your whole salary would be if nobody paid any taxes.

Plus, you have a much better sense of security, more economic freedom, and less stress than you'd have in a society in which nobody paid taxes.

It is the government that prints and further provides the stability of the currency via which our economic transactions take place. It is the government that provides the roads, bridges, railways, and ports via which our resources traverse the country. It is the government that ensures the fair and standardized provision of utilities like water and electricity. It is the government that legally defines and enforces property rights via our police and military forces. It is the government that legally defines and enforces the concept of a corporation. It is the government that ensures that our workers receive at least some minimum standard of education. And so on and so forth. Taxation makes all this possible.

Imagine the state of the economy without all that. Imagine how poor you'd be.
 

Yoshichan

And they made him a Lord of Cinder. Not for virtue, but for might. Such is a lord, I suppose. But here I ask. Do we have a sodding chance?
Without taxes, you wouldn't have a job or a society. I have a a friend who also complains constantly about taxes, but he doesn't realize that if he would not pay, if anybody would not pay, our country / society as we know it won't exist. He wouldn't even have the education to do his job, and maybe he wouldn't even be alive because there are no doctors.
 

Yoshichan

And they made him a Lord of Cinder. Not for virtue, but for might. Such is a lord, I suppose. But here I ask. Do we have a sodding chance?
Mario pays you?! Well at least you get some kind of compensation for his constant betrayals and letting you fall to your doom.
With the amount of times Mario's dropped me off a cliff, I should charge 99,9% ._.
 

FlyFaster

Member
I pay ~25%, I live in the US. I feel ok about it for the most part.

I would be happy to pay more taxes if it meant I had healthcare, free/cheaper schooling, better public transit, among other things.
 
24 is good as a base rate at your level. You'll get a return and effective drops here and there.

You pay 24% income tax so that your throat isn't cut by marauding gangs of bandits and your road isn't made of corpses.

Consider the alternatives for a moment and a robust, egalitarian sliding tax scale is the best way we know to organise a state.
 

giggler

Banned
Denmark has both the highest tax rate in the world and the happiest people on the planet: http://www.frugalconfessions.com/miscellaneous/denmark-highest-tax-rate-and-happiest-people.php

Pay more tax, live in a better society!?

there was an article the other day about how even the left in denmark is saying things need to change fast because it's not sustainable, surprise surprise.

http://www.nytimes.com/2013/04/21/w...ate-ample-to-a-fault.html?pagewanted=all&_r=0
 
there was an article the other day about how even the left in denmark is saying things need to change fast because it's not sustainable, surprise surprise.

http://www.nytimes.com/2013/04/21/w...ate-ample-to-a-fault.html?pagewanted=all&_r=0

Lol that was ridiculously unplanned and severely misused abd misrepresented by conservatives and their lackey media. No one is touching the welfare system in Denmark. No one is dumb enough to incur the wrath of the Danish electorate.
 

Keio

For a Finer World
there was an article the other day about how even the left in denmark is saying things need to change fast because it's not sustainable, surprise surprise.

http://www.nytimes.com/2013/04/21/w...ate-ample-to-a-fault.html?pagewanted=all&_r=0
That article was such a joke, recommend reading f. ex. this: http://my.firedoglake.com/deanbaker...y-to-express-dislike-of-danish-welfare-state/

I'd love to get rid of the welfare queen narrative.

And yeah, I believe in paying my taxes. I'm on a good six figure income, but I've come from a normal middle class family, gotten free education and had the public health care system save me from cancer so every tax euro is money I'm happy to pay.
 
Yes. I should have mentioned that last year I got about 2 grand back, yet I still can't shake the feeling that I'm getting ripped off every time I get paid.

Well, at that income you're paying very little federal/state taxes after tax refunds, so that's not too bad. The overwhelming majority of the money taken from your paycheck, in which you won't get refunded, goes to Medicare, Medicaid, and Social Security. You'll probably never qualify for Medicaid, though the national healthcare system is in a state of transition... but you'll probably be denied federally subsidized healthcare from Obamacare as well if you need it in the near future.

What you and many of us here are really getting ripped off from is Social Security. Even if the program still exists in the 2050s or 2060s, there's no chance in hell you'll beat inflation or the markets when it comes to the dollars you get back (you'll pay way fucking more than what you'll get back... if you get back anything). For most young taxpayers, thinking of the money your current Social Security contributions could go to can really hurt.
 

Aiii

So not worth it
I pay 42% income tax, lets not even begin to discuss 21% sales tax and other taxes.

I'm about 4k away from paying 52% over the remainder of my income too.

So yeah, count yourself lucky.
 
That's far too high for your pay. Income Tax + FICA taxes + health insurance adds up to a little over 24% of my paycheck, and I'm making close to four times that. The only way it should be that high is if you got hired on as a contract employee which would make you responsible for the employer share of FICA taxes as well.

Edit: How much is state income tax OP?
 
At least you see the benefits. Married with kids and I pay 30% and still have to pay for private security, private schools, private medical care, each with an additional 16% VAT tax and driving on shit roads.

Fuck Mexico!
 

ToxicAdam

Member
According to the website TaxAct, my effective rate was only 14-15 percent.

I want to thank all you working singles for helping fund our lifestyle.
 
Pay around 43% I think in taxes. Of course then you have VAT on everything with 21%, extra taxes on gas, house, etc. Wouldn't be suprised if 3/4 of your income ends up with the government here.
 

sankt-Antonio

:^)--?-<
41,4% for me. Germany. But this buys me social peace. Not affraid to go out at night alone, being robbed or stabbed. Nice transportaion system and infrastructure plus a working police force etc.

I would say its worth it.

same here. to be fair, health insurance and pension is uncluded in those 41%.

Lol
 

apesh1t

Banned
For those from other countries that are claiming higher taxes than the OP, you have free healthcare. To put it into perspective, when I had healthcare (mandated by Massachusetts) I was paying 172 dollars every 2 weeks, in addition to facing a 35% tax on what was left. I brought home around 850 every 2 weeks, subtract 172 from that than tax 35% of what is left. 2014, this will become standard nationwide. In addition to paying this "tax" we also have to pay co-pay at some where around 20 dollars for a regular doctor visit up to 200 dollars for an emergency. Your government takes care of you, ours doesn't. We also work more hours than those mentioned in this thread and have no way of getting healthcare.

Also Apple (an American company) paid 1.9% on their gross income...I know stocks and what not aren't taxed as high. There's some fascinating articles about off shore banking if you dig for them.
 
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