Quote:
Originally Posted by MorTech
Add it yourself...Don't forget "fees" and mandated insurance and other taxes an employer is forced to pay on your behalf. Productivity gains are stolen by inflation plus 2% which is at least 5%.
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Let's see:
Fed income tax: 15% (effective rate)
FICA tax: 0% (7.6% if employed, 0% if retired)
State income tax: 0%
State Sales tax: 6%
County Sales tax: 1%
Property tax: 1% (effective rate)
School tax: 1% (effective rate)
Total taxes I pay: 24%
But even then, I get something in return for most of those taxes so I can't really call it stealing. The only clear exception is the school tax, I don't get any products or services in return for that money.
Mandated insurance? If I pay for a product or service I don't consider that a tax.
Inflation? 1. Many of my sources of income increase along with inflation making it a net zero; 2. Inflation is the increase in the cost of a product or service that I pay for so I don't consider that a tax; and, 3. At worst, inflation increases profits which is absolutely a goal of capitalism.
Taxes an employer is forced to pay on my behalf? Might have had some meaning when I was employed but even then, what the employer paid did not come out of *my* pocket (and no, it would NOT have gone into my pocket otherwise)