How much tax

Discussion in 'Politics' started by Salty, Apr 16, 2013.

  1. Salty

    Salty
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    What % of tax did you pay on your actual income
    ( not adjusted gross Income)

    FTR Obama
    Fed.....17.85 %......State (IL)......4.83

    Salty
    Fed......6.91 %......State (NY).....3.13
     
  2. InTheLight

    InTheLight
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    Excellent topic and should open the eyes of anybody that advocates a flat tax or a consumption tax.

    If you mean taking line 61 (tax due) and dividing it by line 37 (adjusted gross income) on Form 1040, and doing the equivalent with the state form, here are my numbers:

    Fed.....2.9%
    State (MN) 3.9%

    The idea of a flat tax has been around for a long time, with millionaire Steve Forbes being one of the most vocal supporters. Under one of Forbes' plan there would be a flat tax of 17% on any gross income over $36,000. Under another of his flat tax schemes there would be a deduction from gross income of $13,000 per adult and $5,000 per child (family of four = reduction of $36,000 from gross income).

    Take a look at line 22 of your 1040. Subtract $36,000 from it and multiply the result by 17%. How do you like the flat tax now?

    (Note, Salty, I'm not implying you support a flat tax, I'm saying "how do you like it now?" as an open ended question to anyone that advocates a flat tax.)
     
  3. Paul3144

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    I took my Adjusted Gross Income and divided it by the actual tax paid.

    Federal... 13.9%
    State (FL)... 0% Florida has no state income tax
     
  4. righteousdude2

    righteousdude2
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    How much tax?

    Enough to keep the good times rolling up here on Capitol Hill.

    The prez he needs his pockets full; Michelle, she loves to shop; the kids will take their classmates on a tax paid spring break; and all elected officials have those ongoing, ever increasing infaltion costs that must be covered, so why not let the unexpecting taxpayers continue to pay the way of the affluent few, who knew that a political life was the only life for them!

    After all: Taxes make the world go-round, and so long as there is something they can tax, the taxes will continue to maintain the high profile lifestyle of those in the political uppercrust.

    No they will tax bullets; tomorrow they'll tax your pet fecal matter. Where ever there is something needing a tax to keep the income rolloing, you can bet they will find a way to tax it.:tear:
     
  5. Salty

    Salty
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    The lines you are using are for the 1040
    I used 1040A which would be lines 22 & 28
    1040EZ would be lines 1 & 10



    Actually I would have paid less

    I do not support the flat or fair tax.
    I support the Automatic Electronic tax.
    Everyone ( including corporations, non-profits ect) would pay a 1/2 of 1 percent tax on ALL electronic transactions - ie checks, credit cards ect. If you paid in greenback = no tax.

    No forms to fill out - no records to keep, NO IRS!
     

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