Taxes. Just how much do the middle class really pay?

[Coach]

SS tax 6.2% of your income for your first $118,500 Let's say most of us pay 6.2%
Medicare tax 1.4%
Medicare suretax .9%

I am for all of these taxes.

State tax. Varies. Let's say 5%
Sales tax. Varies. Lets say 2.5%
Federal income tax. Let's say 28%


Add all of this up and you get 44.05% of your income going to taxes! IMO, this is way too much for the middle class. Sure there are deductions for children, and mortgage tax, but there are also luxury taxes, gas taxes, city taxes and property that I did not list.

Mission101 for the next President if he/she cares about the middle class is to cut their taxes. Why can't both sides agree here?

 

[hamster]

Add all of this up and you get 44.05% of your income going to taxes! IMO, this is way too much for the middle class. Sure there are deductions for children, and mortgage tax, but there are also luxury taxes, gas taxes, city taxes and property that I did not list.

Mission101 for the next President if he/she cares about the middle class is to cut their taxes. Why can't both sides agree here?

You are unpatriotic if you don't pay your 44%.

 

[Coach]

You are unpatriotic if you don't pay your 44%.

Oh, I pay a bit more than that.. Just don't accuse me of running up more debt than all the other presidents combined and we can have a beer together.

 

[Vader]

SS tax 6.2% of your income for your first $118,500 Let's say most of us pay 6.2%
Medicare tax 1.4%
Medicare suretax .9%

I am for all of these taxes.

State tax. Varies. Let's say 5%
Sales tax. Varies. Lets say 2.5%
Federal income tax. Let's say 28%


Add all of this up and you get 44.05% of your income going to taxes! IMO, this is way too much for the middle class. Sure there are deductions for children, and mortgage tax, but there are also luxury taxes, gas taxes, city taxes and property that I did not list.

Mission101 for the next President if he/she cares about the middle class is to cut their taxes. Why can't both sides agree here?

The U.S. has a progressive graduated tax scale. If you make $118,500 a year then your total federal tax won't touch 28%. It's around 22%. You pay 10% for the first $18,000 or so and then 15% for the next amount up to $73,000 and so on.

 

[Ron Burgundy]

SS tax 6.2% of your income for your first $118,500 Let's say most of us pay 6.2%
Medicare tax 1.4%
Medicare suretax .9%

I am self-employed and pay double FICA, or 15.3%. I also pay the employer's share of FICA for my employees which is about $900 a month. I am lower middle class now because the economy sucks.
That being said, Bomma gave me a whopping big tax cut...because I make a lot less money than I used to, I pay a lot less taxes.

 

[Hineswardkickedurpanzyass]

I contributed $25 to Obamas reelection campaign just so I didn't have to pay taxes for four years.

 

[Steeltime]

I contributed $25 to Obamas reelection campaign just so I didn't have to pay taxes for four years.

The federal government quietly agreed to forgo billions of dollars in potential tax payments from Citigroup as part of the deal announced this week to wean the company from the massive taxpayer bailout that helped it survive the financial crisis.

http://www.washingtonpost.com/wp-dyn/content/article/2009/12/15/AR2009121504534.html

Top Obama contributors:

Citigroup Inc $755,057

https://www.opensecrets.org/pres08/contrib.php?cid=N00009638

Wait ...

 

[Troglodyte]

Pittsburgh has a ton of federal, state, local and public school employees (teachers, administrators, etc.)

The morning commute during federal holidays is astonishing. Traffic is cut in half. There's your tax dollars at work. Err... I mean getting another day off.