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Financial Planning / Tax Strategies


Subject:  Total taxes you pay Date:  4/13/1999  10:51 AM
Author:  Dembus Number:  14587 of 127753

I've added up taxes I pay. Half of gross wages are deducted for an array of taxes (federal, state, local income, medicare, social security, disability).  Adding to that deducted 50%, there are property, school taxes, taxes on many goods and services such as clothes, soap, furniture, cars, gasoline, bridge and tunnel tolls, phone and cable service, on interest and dividends ('unearned' income), capital gains (if I sell stuff), and when I die, estate taxes which my heirs will pay. But calculating taxes I pay while alive, I find that perhaps 75% of my income is paid out as taxes.  Abused taxpayer.

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