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Half Your Paycheck To The Government In 2013
fox ^ | 11-21-12 | gerri willis

Posted on 11/21/2012 5:48:15 AM PST by TurboZamboni

Come January 1, you're probably not going to be happy with the amount of taxes you're paying. That's because it's not just Federal taxes that you pay.

A middle class taxpayer pays 25% percent of their income in Federal Income Tax. Sounds, ok?

Then there is the Federal Social Security and Medicare payroll tax of 13.3%. You pick up 5.65% while you're employer pays 7.65%. Add them up and that's 38.3% of middle class family incomes going to Uncle Sam. But we aren't done, not by a long shot.

According to the Tax Foundation, the average state's income tax rate on the middle class is 4.82%. Of course, some states have it and some don't, but we're taking an average here.

Now the total: 43.12% of middle class income to taxes.

Oh, and I almost forgot, unless congress makes a move, Federal Income taxes go to 28% for middle income folks next year as the Bush tax cuts expire.

(Excerpt) Read more at foxbusiness.com ...


TOPICS: Business/Economy; Government; News/Current Events
KEYWORDS: 2013; debt; gault; spending; tax; taxes
gone Gault yet?
1 posted on 11/21/2012 5:48:29 AM PST by TurboZamboni
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To: TurboZamboni

That’s exactly what I was thinking; only applies if your playing along.


2 posted on 11/21/2012 5:52:29 AM PST by Rich21IE
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To: TurboZamboni

If the GOP ever wants to win another election they need to start running adds NOW!! outlining all this crap. They need to be getting their message out 24/7/365. Not just during an election year.


3 posted on 11/21/2012 5:52:48 AM PST by BobinIL
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To: TurboZamboni

A question for the tax knowledgeable:

We often hear how US individual taxes are lower than European taxes. Are these apples to apples comparisons? Does Europe have separate provincial, Social Security, unemployment fund income taxes? And does it have additional local taxes?

I realize that there are some other factors—US corporations are heavily taxes; capital gains are more heavily taxes; on the other hand, the European VAT tax probably outweighs our state sales taxes (which is why it’s been floated as a possibility for us).


4 posted on 11/21/2012 5:55:17 AM PST by Pearls Before Swine
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To: TurboZamboni

This is what half of Americans voted for. It is what they want. They have the government they elected.


5 posted on 11/21/2012 5:59:06 AM PST by Obadiah (Americans said, "Give us Barabbas!")
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To: BobinIL

The GOP has been banned for life from the game. We’ll all dimocrats now.


6 posted on 11/21/2012 6:01:06 AM PST by showme_the_Glory (ILLEGAL: prohibited by law. ALIEN: Owing political allegiance to another country or government)
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To: TurboZamboni

This only applies to the 50% that are paying taxes.

The other 50% think your a greedy bastard for wanting to keep your own money.


7 posted on 11/21/2012 6:01:40 AM PST by Lets Roll NOW (A baby isn't a punishment, Obama is)
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To: Pearls Before Swine

Something else to watch for is the AMT.
If the AMT is not patched again, which I seriously doubt it will be, it will hit anyone making more than $45k/year.


8 posted on 11/21/2012 6:01:53 AM PST by Texas resident (Welcome to the nightmare)
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To: Rich21IE

Exactly. I started working after school and Saturdays at age 12. At age 48, I quit. At 61, I work part-time, about 20 hrs per week. I work just enough to provide my “needs.”

I got so fed up with the taxes, government, and materialistic society, I decided I would no longer participate in it.

I am kind of rebellious by nature, so I figure I got to this point a little sooner than most folks. But, I think this is where we are headed. The average person is not going to continue paying taxes to such a wasteful government. Nor, are they going to work their butts off to provide for folks who don’t work.


9 posted on 11/21/2012 6:03:09 AM PST by Jude in WV
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To: TurboZamboni

Obamanation


10 posted on 11/21/2012 6:03:35 AM PST by Rightly Biased (Avenge me Girls AVENEGE ME!!!! ( I don't have any son's))
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To: TurboZamboni

Take a look at your tax bill this year (2012). You may be subject to the AMT, and you won’t find out until you file. If you use a tax preparer, call him, now.


11 posted on 11/21/2012 6:04:00 AM PST by Daveinyork (."Trusting government with power and money is like trusting teenaged boys with whiskey and car keys,)
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To: Obadiah
This is what half of Americans voted for. It is what they want. They have the government they elected.

Many of them don't pay taxes, either...(especially not the dead and fictitious)

12 posted on 11/21/2012 6:07:08 AM PST by Smokin' Joe (How often God must weep at humans' folly. Stand fast. God knows what He is doing)
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To: showme_the_Glory
PROPERTY OF GEARY GRAPHIC AND DESIGN
13 posted on 11/21/2012 6:08:36 AM PST by baddog 219
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To: Jude in WV

I wish I could agree with you, but the “average” american is an unimaginably stupid piece of sub-human filth who votes for the kenyan and demofilth in general.


14 posted on 11/21/2012 6:13:15 AM PST by Doctor 2Brains
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To: Pearls Before Swine

I do believe europeans get a lot more “perks” from their employers that enable them to live comfortably before paying taxes

At least I know managers do, with cars, travel expenses, vacation expenses and other items that we pay out of pocket, as part of their compensation. I do not know what they pay in health premiums above the built-in socialized medicine costs


15 posted on 11/21/2012 6:19:19 AM PST by silverleaf (Age Takes a Toll: Please Have Exact Change)
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To: TurboZamboni

Easy solution = no paycheck!


16 posted on 11/21/2012 6:23:25 AM PST by bigbob
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To: TurboZamboni

And, don’t forget...

The self-employed pay the FULL 13.3% (15.3%) payroll tax rather than splitting it with an employer. (At least the second half can be taken as a business expense deduction.)


17 posted on 11/21/2012 6:26:37 AM PST by moovova
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To: TurboZamboni

day late and a dollar short..

i have been paying over half of my earnings to the government for over 10 years now....

feds, state, local, sales, property, gas, license plates, communications, and so on and so on..

add it up sometime...


18 posted on 11/21/2012 6:34:17 AM PST by joe fonebone (The clueless... they walk among us, and they vote...)
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To: Lets Roll NOW

and this is why i not only want to go over the financial cliff, i want to put a brick on the accelerator of the bus and go over full speed..

the ones that voted for fubo overwhelmingly, lower income workers, single women and minorities, will see their tax rates double and even triple, while a whole host that did not pay taxes before will now be on the hook for taxes...

be careful what you ask for, you might just get it..

let them eat cake


19 posted on 11/21/2012 6:36:56 AM PST by joe fonebone (The clueless... they walk among us, and they vote...)
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To: TurboZamboni
gone Gault yet?

Three years ago... Add state and local sales taxes (9% here) to what you purchase with what's left after income taxes.

20 posted on 11/21/2012 6:42:53 AM PST by Errant
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To: TurboZamboni

Why only half? Why not send very penny to the govt, all savings, everything and have them redistribute so everyone can live the same...?
Wait, that means JayZ and Beyonce have to send little Blue Bell to a govt school, can’t use their private plane....Obozo and Mooch can’t live in HI....
Never mind....


21 posted on 11/21/2012 6:43:22 AM PST by matginzac
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To: showme_the_Glory

Taxes: the new looting...


22 posted on 11/21/2012 6:49:10 AM PST by GOPJ (The economy is so bad MSNBC had to lay off 300 Obama spokesmen - Leno)
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To: Pearls Before Swine

The “secret” to eurosocialism is the VAT. It builds in inflation is everything. Luckily we don’t have a VAT here(yet).


23 posted on 11/21/2012 6:49:23 AM PST by central_va ( I won't be reconstructed and I do not give a damn.)
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To: TurboZamboni

Given how many Republicans change their tunes once they are elected, and rampant vote fraud, it also sort of touches on that feeling of “taxation without representation.”


24 posted on 11/21/2012 7:08:56 AM PST by Anima Mundi (Envy is just passive, lazy greed.)
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To: BobinIL
>>If the GOP ever wants to win another election<<

Up to twenty million illegals will be given amnesty in the near future. With their new found citizenship, they will be allowed to import up to four family members...legally.

GOP win another election? Ummm, I'm thinking not.

Most illegals from Mexico/South America reside below the poverty line as defined by Uncle Sugar. This means that when it is time to file their federal income tax forms, they will qualify for the earned income tax credit.

Up to four thousand depending on circumstances laid out in the tax code will be handed out to new legal-illegals without those folks having contributed to the system.

Billions in free $$$......courtesy of YOU America!

Enjoy Obozo’s 2nd term.

25 posted on 11/21/2012 7:12:56 AM PST by servantboy777
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To: moovova
(At least the second half can be taken as a business expense deduction.)

...for now.

26 posted on 11/21/2012 7:24:59 AM PST by TurboZamboni (Looting the future to bribe the present)
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To: servantboy777; MestaMachine; KC_Lion; Godzilla; Domestic Church; dragonblustar; Oorang; ...

.

.

. . . . Check out # 25.

.


27 posted on 11/21/2012 7:25:56 AM PST by LucyT
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To: servantboy777

Twinkle Toes is pushing to get illegals drivers’ licenses in Illinois.


28 posted on 11/21/2012 7:30:24 AM PST by bgill (We've passed the point of no return. Welcome to Al Amerika.)
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To: servantboy777

In addition the average Obamacare subsidy is going to be around $5000 per year which will cost the taxpayers billions. Redistribution.


29 posted on 11/21/2012 7:33:46 AM PST by ironman
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To: Obadiah

The belief that the majority rules in the United States is unConstitutional and reflects a long time disinformation campaign on the part of the left. We don’t have a majority rules system.


30 posted on 11/21/2012 2:44:45 PM PST by 1010RD (First, Do No Harm)
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To: TurboZamboni
The only good thing about this set of tax increases is the heaviest load falls on states dominated by Democrat voters.

I've been wanting them to come up with such a tax ~ applies just to Democrats, and Republicans skate free. We all hoppy!

Guess this is as close as it's going to get but New York deserves it ~ blasted by a superstorm, billions in damage, and now their boy raises taxes to the roof!

ROTFLMAO

31 posted on 11/23/2012 4:56:13 AM PST by muawiyah
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To: joe fonebone

http://cnsnews.com/news/article/sandy-ravaged-new-jersey-families-face-6933-tax-hike-fiscal-cliff-stalemate ~ this says, more or less, that what you believe is just so much garbage. The top 5 states when it comes to tax increases in the fiscal cliff are ALL among the wealthiest parts of the nation, and have the most Democrats. On a mass scale the greater part of the increased taxes will fall on the RICH who voted for Obama!


32 posted on 11/23/2012 5:00:17 AM PST by muawiyah
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To: Pearls Before Swine

Don’t know about individual tax rates, but US corporate rates are now the highest in the world. Either a corporation “joins” the mob in DC...or they’re run offshore at this point.

http://money.cnn.com/2012/03/27/pf/taxes/corporate-taxes/index.htm


33 posted on 11/23/2012 5:05:13 AM PST by mo (If you understand, no explanation is needed. If you don't understand, no explanation is possible.)
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To: muawiyah

I guess you missed this part in the article...

The potential for tax increases on millions of U.S. taxpayers is still possible, the Tax Foundation explains, and would be especially devastating for lower-income families because of the changes to the child tax credit; the elimination of the 10 percent bracket, which would go back to 15 percent; and the reduced standard deduction for married filers — all of which are provisions in the 2001 and 2003 Bush tax cuts.


34 posted on 11/23/2012 5:08:22 AM PST by joe fonebone (The clueless... they walk among us, and they vote...)
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To: joe fonebone
Fully aware of that ~ but the big bucks come from going after rich Democrat Ogoobers in heavily Democrat states.

You could tax 100% of the income of the lowest income 35% of the country and that wouldn't run the government for ten minutes.

Not to dismiss your concerns about the Democrat tax conspiracy to finally come home ~ to their distress, but I think income taxes, per se, have failed to finance government, and can be considered to be just another failed government program.

Before the income tax amendment this country used indirect taxes to finance the federal government and that was quite successful ~ albeit a tad limiting eh!

This fiscal cliff deal will not be resolved by the current Congress except by almost eliminating federal spending.

Now's the time to strike! ~

35 posted on 11/23/2012 5:20:30 AM PST by muawiyah
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To: TurboZamboni

THE GOVERNMENT ALREADY GETS MORE OF OUR MONEY THAN WE DO!!!

WHERE DOES OUR MONEY GO?

FEDERAL TAXES
Federal Income Tax
Social Security Tax
Medicare Tax
Inheritance Tax
Capital gains tax

OTHER TAXES
State Income Tax
Real Estate Tax
Personal Property Tax
Utility Taxes
Up to 6 different telephone taxes
Gasoline Tax (Federal and State)
Cigarette Tax (Federal and State)
Liquor Tax (Federal and state)
Highway tolls
Service Charge Tax (air fare, hotels, taxi cabs, etc)

LICENSES AND PERMITS
(fees paid to the government)
Business license
Building Permit
Vehicle License Registration
Driver’s license
Marriage License
Electrical permit
Occupancy permit
Food License
Fishing License
Hunting License

YOUR EMPLOYER PAYS TAXES ON YOUR BEHALF:
Social Security (7 ½ %)
Federal Unemployment Tax (FUTA)
State Unemployment Tax (SUTA)
Workers Compensation

AND DON’T FORGET,
WE PAY UP TO 10% SALES TAX ON ALMOST EVERYTHING WE BUY!

The government already gets more of our money than we do!!! And Obama and the Democrats want to tax us more???? The governments needs to reduce foolish spending not raise raise taxes.


36 posted on 11/23/2012 5:28:38 AM PST by Jonah Vark (Any 5th grader knows that the Constitution declares the separation of powers.)
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To: muawiyah

I fully understand everything you are saying...

I do not beleive you understand what I am saying..

this is not about funding the government in regards to lower income people..

this is about putting cash into the kitty, about feeling some pain for once, about “being fair”

if a fubo voter comes to you about taxing the rich, yet they bitch because their taxes went up, all you have to say to them is “now everybody is feeling the pain. how much more fair can you get?”..

what can they say in return that does not make THEM sound greedy and childish???

the rich will be paying more ( it was gonna happen anyway ) the middle class will be paying more ( it was gonna happen anyway ) and now...

the lower income and those that did not pay taxes before are going to be paying more, and a whole host that did not pay anything are going to be putting something into the kitty...

talk about an opportunity to not only educate, but convert some libs to conservatism...

those that do not wish to change their views, well, just keep on coughin’ up the cash pal, ‘cuz you got exactly what you voted for...

be careful what you ask for, ‘cuz you might just get it..

let them eat cake


37 posted on 11/23/2012 5:31:36 AM PST by joe fonebone (The clueless... they walk among us, and they vote...)
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To: muawiyah

You could tax 100% of “the rich”......those making “over 250k”/yr....

This year, Congress will spend $3.7 trillion dollars. That turns out to be about $10 billion per day. Can we prey upon the rich to cough up the money? According to IRS statistics, roughly 2 percent of U.S. households have an income of $250,000 and above. By the way, $250,000 per year hardly qualifies one as being rich. It’s not even yacht and Learjet money. All told, households earning $250,000 and above account for 25 percent, or $1.97 trillion, of the nearly $8 trillion of total household income. If Congress imposed a 100 percent tax, taking all earnings above $250,000 per year, it would yield the princely sum of $1.4 trillion. That would keep the government running for 141 days, but there’s a problem because there are 224 more days left in the year.

http://www.matchdoctor.com/thread_6_41417_1/Taxing_The_Rich_100_Would_Not_Even_Run_The_Federal_Government_For_5_Months.html

At the end of that little stunt....all local jobs and industry would be gone!!!and the way DC would look at it,.....well, they’d see it as having successfully wiped out the competition!!!!


38 posted on 11/23/2012 5:33:38 AM PST by mo (If you understand, no explanation is needed. If you don't understand, no explanation is possible.)
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To: TurboZamboni
Then there is the Federal Social Security and Medicare payroll tax of 13.3%. You pick up 5.65%

That will revert back to 7.65% Jan 1

39 posted on 11/23/2012 5:38:19 AM PST by Altura Ct.
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To: TurboZamboni

I wonder how many loans will go bust because people will no longer be able to make monthly payments?


40 posted on 11/23/2012 5:51:49 AM PST by TBall
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To: joe fonebone
This is actually a bifurcated discussion of two topics. One is taxation ~ pure and simple ~ no one escapes taxation somewhere. The original design in our Constitution was that the federal government could be funded only by indirect taxes ~ thereby removing much of the contact between the federales and the population on an individual basis.

I think we know all the issues there ~ to wit, income tax bad, high taxes bad, indirect taxes good ~ or at least just the sort of thing needed to trim the federal government's spending sails.

The other issue is my special idea of TAXING ONLY DEMOCRATS. That way the Democrats are happy because their taxes would certainly be increased, but the Republicans would be happy because their taxes would certainly be decreased.

Do not try to mix those two ideas.

In the case at hand the states that will end up paying the most taxes in the Fiscal Cliff are those who are overrun with Democrats ~ hence, just letting things happen as they are going to happen will end up taxing Democrats, and there's nothing wrong with taxing them!

Now, let's get on with the other part of the idea ~ exempting Republicans from taxation!

BTW, the idea that forcing the poor to pay federal income taxes is good is just this side of totally bizarre. The whole program of federal income taxes was sold as being applicable to only the biggest businesses and the top 1 or 2 percent of income earners!

Reagan put us on the path of returning to that standard ~ besides, as we all recall that was a Republican campaign promise ~ in 1909!

41 posted on 11/23/2012 7:28:40 PM PST by muawiyah
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