Income Taxes

Discussion in 'Economy' started by GHook93, Aug 16, 2011.

  1. GHook93
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    GHook93 Aristotle

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    2011 Federal Income Tax Brackets and Marginal Rates

    The Income tax rate (whether it's joint or single) runs from the low at 10% (which is a farce, since people that low will eventually pay nothing) to 35% at the highest level of over $379,150! However you also have state income tax. Place like CA (10%), HI (11%), NJ (9%), NY (9%), OR (11%) and VT (9%) are 9-11%! That is pretty high! In these states raising federal income taxes puts people close to the 50% tipping point! I say when the majority of one's money goes to taxes then that is immoral!
     
  2. peach174
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    peach174 Gold Member Gold Supporting Member Supporting Member

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    That is why we have the Taxed Enough Already movement.
    The majority of us is paying about 51% of taxes in everything.
    Add federal, State. City and County, in some areas, it is even hight than 51% more closer to 60%.
    But the Federal Government tends to forget all the other taxes that we pay.
    We pay Federal taxes in everything, from TV,utilities,phone,gasoline you name it, what ever we use or are billed for we are taxed by the Federal Government, you add those in and it is more or even higher than 60%.
     
  3. Mr Clean
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    Mr Clean Gold Member

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    You forgot to throw property taxes into the mix.
     
  4. peach174
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    peach174 Gold Member Gold Supporting Member Supporting Member

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    That is county.
     
  5. Mr Clean
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    Mr Clean Gold Member

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    County and/or town.

    But taxes nonetheless.
     

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