Thursday, April 12, 2012

Ok so remember my tax comment earlier....

Im still gonna pay it all but it SUCKS. Do you know my tax is 50%?! Who gets taxed 50%?! This is from my accountant: Your tax rates are almost 50% total (unbelievable) Federal 34.4% State & City 9.7% Unincorp. Business 3.8% MCTM .3% I have to pay so much in taxes its honestly more then I saved.. all my savings POOF.... That SUCKS.

7 comments:

Gregory said...

Have you looked into if it would be less living in California as you have mentioned a few times?

The sad thing is, if your income came from investments you would be taxed at a much lower rate (ala Warren Buffet) so in essence you/we are screwed for ACTUALLY WORKING versus getting income from simply sitting around making investments all day long. The system is gamed and hurts everyone but the top 2%.

Sue said...

Well... You could open a church. Or a temple. "The Temple of the divine crystal". Religious places pay no taxes. The tenets of your church could be that gay males must wear Slick It Up gear to worship the divine crystal. Then, in addition to selling worship and fetish gear, you can collect monies to support the church.

Don't laugh. It happens all across this great land.

http://suefairview.com/

Jim said...

Sorry...and YES, I agree, it SUCKS!

James said...

Your marginal tax rate (the tax on the last dollars you earn) may well be 50%, which is about the same as in any part of the world you would care to live in if you're making a reasonable income. Your tax bill overall is likely significantly less than 50% of all your income. Anyway, that's the price of civilized society, so I don't mind paying it.

eric said...

Mine said the same thing. He said to bring down my taxable income I either have to get married, go back to school, start a business or buy property.

SirsButterscotch said...

I am laughing so hard right now because it's early and I read your post and thought you mentioned a UNICORN tax which totally makes sense.

JamTheCat said...

You gots my sympathetics. I paid mine last week, half of it on a credit card so I'd have no penalties or interest racked up. Seems all the Bush tax breaks went to the assholes who don't need them while we get royal shafted...which I wouldn't mind if it was Prince Harry doing the shafting on me.