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[Baraka in the White House]

this is why the tea party exists

No, see the tea party exists because after getting thoroughly spanked in the 2008 election conservatives scrambled in a Hail Mary attempt to remain relevant by tapping into fears that America had just elected the great black socialist devil and slapping a libertarian-esque name on the whole thing, because these people totally weren't Republican shills or anything but were just really, really concerned patriots.

Only the whole thing gathered a little too much momentum and some tea partiers decided the Republican party needed an ideological purge which resulted in several old school establishment Republicans getting the boot in primaries and a general schism within the caucus that's essentially been the source of gridlock in Congress ever since.

There's a lot of reasons why the tea part exists. Taxes never was one of them.

 

[SquiddyCracker]

That's a cheap price for society.

You're getting a killer deal!

 

[sonicfan]

24% seems high for federal taxes for sure. But if you consider Social Security taxes of 6.2%, and state taxes, and then federal....24% all in still seems a bit high to me....your federal should not be much at all with the standard deduction.

 

[NorrenRadd]

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

Is this normal?

That doesn't sound normal.

The 2012 federal tax amount on 25k is $3,319 (13.2%)
The 2012 California tax amount on 25k is 576 (2.3%)

Your standard deduction should knock your 25k down significantly.


Do you have other sources of income?

 

[smr00]

You drive on roads, don't you?

No.

So what excuse do you have now?

 

[.la1n]

that's why im unemployed. 100% of my earnings go to just me

 

[Zoe]

OP, your withholding is definitely wrong. A single person who does not own a house and has no dependents will typically select 2 exemptions. Follow the instructions on the W-4.

Why pre-tax, if I might ask? I put mine into a Roth 401k for dat tax free money when I'm old.

It really depends on the state of the economy. In practice you're supposed to have both a taxed and untaxed bucket to pull from so you can use whichever one benefits that year's tax rate.

Also, many companies only offer untaxed anyway. So if they're offering any matching, you're stuck with that.

24% seems high for federal taxes for sure. But if you consider Social Security taxes of 6.2%, and state taxes, and then federal....24% all in still seems a bit high to me....your federal should not be much at all with the standard deduction.

If he's counting SS and MC when talking about withholding rates, then he's doing it wrong.

 

[pseudomyxoma]

I'm at 47% (Quebec)


But then I take that remaining 53% and purchase goods and services which are taxable. So how much tax are we really paying here?

I'm Manitoban so I know that feeling, not quite as bad but my province has been creeping up, also I feel I pay too many taxes considering I live in shitty ass Manitoba

 

[Beermeister]

Ok, I knew taxes were high in Scandinavia, but I don't even know the point of working at that tax rate.

They don't pay 70%.

 

[Sanky Panky]

Ah the good ol 1913 days of 1% tax rates, and exemption for income below $50k+ (in today's dollars).

I'm all for social safety nets, public services, and national security. I'm against bullshit military industrial complex over-spending, subsidizing of big corporations on the backs of the poor and middle class, increased government borrowing to prop up the top 10%, bullshit wars under false pretenses, etc etc.

Higher taxes are coming, because we must all "share responsibility" for mistakes made by our beloved financiers.

 

[Valtýr]

Around the same age, single, no kids, make around $40k a year.

 

[Deleted member 1235]

That doesn't sound normal.

The 2012 federal tax amount on 25k is $3,319 (13.2%)
The 2012 California tax amount on 25k is 576 (2.3%)

Your standard deduction should knock your 25k down significantly.


Do you have other sources of income?

I think OP should give up more info, he's basically given away his yearly income and claimed he pays 24% of it to tax. I call troll looking to stimulate tax outrage.

I have no idea about US taxes so can't delve into his claim but I'd be very curious to know if he's actually paying 24%

 

[Lucis]

Ya 24% at that amount doesn't sound right
6% payroll deduction
13.2% fed
2.3 % california

that's 21.5 (close though), still doesn't sound right for such low income lol

 

[BeEatNU]

No, that actually sounds kind of high. Are you looking at effective tax rate or marginal rate?

finally someone asked a seasonable question instead of looking for attention.

Check your withholdings, and shit.
I thought if you went to school you get a tax break?

 

[Chumly]

Guys we already know the op screwed up
His withholdings.

 

[awm8604]

It sounds like 24% is what you pay directly. And that's on the low end.

Factor in sales tax, gas taxes, liquor taxes, property taxes, cigarette taxes, plus the other hundreds of taxes we're subjected to, along with the actual 6-10% inflation and you're paying more than it seems while losing the purchasing power you do have at the same time.

 

[Brolic Gaoler]

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

Is this normal?

Try being a married adult with a kid, a union, and retirement dues.

I make about 1700 a paycheck and take home 900.

 

[Danj]

I think OP should give up more info, he's basically given away his yearly income and claimed he pays 24% of it to tax.

Is yearly income supposed to be a thing you keep secret? It's not like it's a number that anyone can use to do anything, is it? Not like your American Social Security Number or anything like that?