Do you know how much you pay in tax? I think I pay 60%.
25% Federal Income Tax
15.3% Social Security Tax
4.72% Arizona Income Tax
5.6% Arizona Sales Tax
2% Tucson Sales Tax
1% Property Tax (based on my property tax and my income)
6% Other: vehicle registration tax, telephone taxes, cell phone taxes, school tax, medicare, unemployment tax, workers compensation Tax
I guess I won't need to worry about the 50% DeathStar Tax .. I mean the 50% Death Tax.
Now for my reflection: I think the tax rate is too high, but I also think there are two more important problems. 1: Taxes are too complicated and 2: there are alot of people who do not pay them.
A flat national sales tax that could be written in less than 80 characters is an attractive approach to me. Because right now the only tax that 'everyone' pays is the sales tax. I hear of people not paying their income tax, but who doesn't pay their sales tax?
Thursday, November 6, 2008
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1 comment:
Yes, I think most of us are paying AT LEAST 60% tax. Sadly, our government likes to hide it so few folks realize how large the bite really is. One of the most shocking tax rates are on your business phone bill (nearly 50%) and car rental/hotel in large cities (sometimes nearly 100%).
I have two tax wishes:
1) A constitution cap on ALL taxes. Starting at 80%, stepping down 5% each year to a final cap of 10%. 10% is an appropriate tithe for the level of government I want. And most of that should go to the local and state levels.
2) Require our legislators to do their income taxes on April 15th. They must be done in chambers, with no pre-preparation. Only the standard tax forms/instructions and IRS resources the rest of us have. Oh, and they all get audited to be sure they make an honest effort.
I think this would guarantee tax reform withing the next 8 months!
Joe Barr.
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