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Real Minimum Wage Tax is 40% in the USA

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posted on Sep, 24 2009 @ 11:59 PM
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reply to post by ldyserenity
 


Standard deduction for a single person on 2008 was 5480 Citation

Sounds like you need a new tax person :/




posted on Sep, 25 2009 @ 12:01 AM
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Originally posted by DaMod
reply to post by lordtyp0
 


Greetings from Evanston, where you SLC people come for your liquor and high point beer.....

I agree, it really depends on the state you live in. For me, we pay no state income tax and no grocery tax. Then again that brings the cost of living in Wyoming to virtually nothing.

I'm noticing how many people are putting state income tax and fed together. I would say that is a mistake on their part, but you already pointed that out.

My taxes are no where near 40%....

SLC sucks btw ....


Sorry? Porn, booze, clove smokes and fireworks, what? I dont know what you speak *cough*

And yeah, SLC has allot of issues, things are slowly changing though.



posted on Sep, 25 2009 @ 12:10 AM
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Originally posted by abecedarian
Well here in Cali, having at times earned over 75k, I can say I rarely get to take home more than 65% of my earnings. Between state and federal taxes, CA takes around 10% and and fed taxes 20-30% depending on actual amount earned. Then, I get to spend the money so, after factoring in fuel taxes (fed, state & local), property (state and local), utility service taxes, phone service surcharges, tax an auto/health/property insurance, and nearly 9% sales tax for every dollar spent on tangible goods (except most food-stuffs), I can see being taxed nearly 50% quite easily.

Never having earned near that amount as a CNA I'm still in the same boat as you. I really really hate this state, if only I could earn enough to move.



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