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guys I have just fallen into critical depression. I just signed up for 6 therapy session who can help me overcome this pain of 28% deductible. I hope I can continue to survive.
I may even try sending a letter to the federal government saying that they are killing me softly.
guys I have just fallen into critical depression. I just signed up for 6 therapy session who can help me overcome this pain of 28% deductible. I hope I can continue to survive.
I may even try sending a letter to the federal government saying that they are killing me softly.
I honestly can't tell if this is supposed to be a serious post. Woe is me, I live in a first world country with the lowest tax rates and I just can't take it.
I honestly can't tell if this is supposed to be a serious post. Woe is me, I live in a first world country with the lowest tax rates and I just can't take it.
It was a joke but I'm still bummed that I/We have to pay so much :x
Welcome to the real world of adulthood. It's a shame that your parents didn't prepare you for living in it. Taxes pay for all that stuff like roads and bridges, police and fire protection and if you lose your job-------unemployment.
Do you expect your tax burden to be less than everyone else?
Welcome to the real world of adulthood. It's a shame that your parents didn't prepare you for living in it. Taxes pay for all that stuff like roads and bridges, police and fire protection and if you lose your job-------unemployment.
Do you expect your tax burden to be less than everyone else?
Well why stop there. Let's pay for unnecessary wars and people who won't even try to get a job because their fine with welfare.
The good news is that your 28% is pretty low actually. Do not move to NYC where not only are the costs of living much higher, but where 40%+ total tax rates are commonplace. In Europe workers often pay 50% plus there is a 20% tax on most merchandise and even food (VAT).
The bad news is that everyone's taxes will be going up in the future. Both income and sales taxes will be going up to pay for the current and future debts we are accumulating in the US. By 2025 I would estimate that most American households will be seeing 50% total tax burdens. A (federal) sales tax would be the big, new component because the government will need to replace the income tax revenue of the then-retired boomers.
It was a joke but I'm still bummed that I/We have to pay so much :x
It only seems like a lot because you don't have investment income or any real deductions to speak of, plus you aren't married. As your investment portfolio grows your effective tax rate will go down because capital gains have lower tax rates. If you ever run your own company you will also access a plethora of tax benefits that aren't available to employees.
However, as I stated earlier, the USA has ridiculously low tax rates compared to other first world countries. To be sure, FICA is a pain, but someone has to pay for seniors. BTW, you are only paying half of the FICA taxes, your employer pays the other half.
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