I did a computation of my taxes a couple of years before I retired.
I was paying 54.7% in taxes.
OK, in all fairness to news reporters, they make so much money, they do not care what they pay in taxes.
But, you and I?
Let us be honest. The tax man commeth and he taketh away.
What do the progressives always forget to include?
The gas tax and insurance. You cannot compare what I pay in taxes to European countries without the cost of medical insurance ….. And they probably lower the amount actually paid in payroll taxes.
I paid 18% Federal Taxes. 13.5% social Security and about 3% Medicare.
Then there was 7% property tax. 41.5.
Then there was about 8.5% sales tax on what was left. 5%. 46.
Then there was gasoline tax: about .5% on gasoline, gas tax is really, really small compared to all the rest. 1% on miscellaneous taxes for telephones, license plates, driver’s license, etc.
About 47.5% And the one they always forget?
You cannot compare the USA to England, and others if you do NOT COUNT INSURANCE costs.
54.5% Not bad from this oldzheimers brain I have, was that? And progressives want me to pay 20% more than that …..
So, how did CNNmoney get 44%?
I have no idea, do you?